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ITV Sells Broadcast Channels and ITVX to Sky for £1.6 Billion but Keeps Studios as Standalone Business
ITV agreed to sell its broadcast channels and ITVX streaming service to Sky for £1.6 billion. The deal, announced July 6, excludes ITV Studios and remains subject to regulatory approval.
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ITV agreed to sell its media and entertainment arm to Sky for £1.6 billion on July 6. The transaction covers ITV's broadcast channels and its ITVX streaming service but leaves out the company's studio production business. Sky Group CEO Dana Strong called the agreement a defining moment for British media.
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Comcast, which owns Sky, began takeover talks with ITV in November 2025. Under the terms, ITV will receive £1.2 billion in cash plus Sky's Love Productions business valued at £200 million. ITV will also receive an additional £200 million in 2028 if advertising revenue targets are met.
Sky committed to spending £2.1 billion on content from ITV Studios over five years. Popular programs including Coronation Street, Emmerdale, Love Island, I'm a Celebrity... , This Morning, Loose Women, Lorraine and News at Ten will see no immediate changes.
ITV must continue providing a free-to-air service until at least 2034 under its public service broadcasting licence. Once the deal closes, ITV Studios will operate as a standalone business. The takeover still requires regulatory approval.
