Sky Nears Completion of £1.6 billion Acquisition of ITV Broadcast Unit
Sky, the UK pay‑TV and broadband provider owned by Comcast (NASDAQ:CMCSA), has agreed on terms to acquire ITV’s broadcast and streaming business for a total consideration of £1.6 billion. The deal also stipulates that ITV Studios will purchase Sky’s production house Love Productions, with an estimated valuation ranging from £80 million to £120 million based on comparable transactions. In addition, the agreement incorporates an earn‑out component of approximately £200 million, which will be payable contingent on the post‑transaction performance of the ITV unit.
The parties expect to announce the transaction within the next two weeks, although one source cautioned that unresolved legal matters could push the announcement date later. This transaction concludes a negotiation saga that began in 2025 and became public in November 2025 when ITV disclosed that it was in talks to sell its Media & Entertainment unit to Sky.
The announcement follows modest market reactions, with Sky shares down 0.70 % and ITV shares up 0.31 % at the time of reporting. The deal is subject to customary regulatory approvals and final legal documentation.