July 6, 2026
Comcast’s European satellite TV operator Sky July 6 announced it has agreed to acquire ITV Media & Entertainment from ITV plc for a total consideration of up to £1.6 billion ($2 billion) in cash, debt and net working capital.
In addition to £1.2 billion in cash and up to £0.2 billion in performance-related earn-out, the deal includes Love Productions, producers of the popular Love Island reality dating show.
The U.K. media market is undergoing a rapid transformation, and as competition for audiences intensifies, scale matters in order to compete with global streaming giants and YouTube in the U.K.
Together, Sky and ITV Media & Entertainment will combine free-to-air broadcasting, a-supported streaming and pay-television together with Sky’s wider portfolio of broadband, mobile and business services.
ITV channels and streaming platform ITVX will remain free-to-air, with its public service broadcasting commitments continuing to be met in full.
Last December, ITVX had amassed nearly 10 billion streams since launching in 2022.
ITV already reaches around 40 million people every week and serves more than 16.5 million monthly digital users. Combined with Sky, the business would account for around 20% of all in-home viewing in the U.K., second to the BBC and ahead of YouTube, and create a commercial streaming champion for the U.K.
“This is a defining moment for British media and an opportunity to build a stronger future for two of the U.K.’s most loved and trusted brands,” said Sky Group CEO Dana Strong. “We have huge respect for the transformation the ITV team has delivered, particularly its successful move into streaming through ITVX, which has brought fantastic British content to millions of viewers across the U.K.”
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