Overview
- ITV said it is in preliminary discussions with Sky over a potential £1.6bn sale of its Media & Entertainment division and stressed there is no certainty a deal will be agreed.
- The proposed transaction covers ITV’s free-to-air channels and the ITVX streaming platform, while ITV Studios is explicitly excluded.
- ITV shares jumped roughly 15%–19% in early trading after the announcement, lifting the company’s market value.
- Analysts expect close reviews by Ofcom and the Competition and Markets Authority, with some estimates suggesting a combined ITV–Sky share of around 70% of UK broadcast advertising.
- The talks follow ITV’s update that it will cut £35m in temporary costs and expects about a 9% decline in fourth-quarter advertising revenue.