Overview
- The proposed transaction excludes ITV Studios, which has drawn separate interest from RedBird IMI and Banijay.
- ITV disclosed temporary £35 million cost savings and forecast roughly a 9% decline in fourth-quarter advertising revenue.
- Reporting from Sky News indicates the talks explore creating a UK-focused streaming player.
- Comcast, Sky’s US parent, is understood to be involved through its ownership structure.
- UK competition authorities are expected to scrutinize any formal proposal given the 2006 ruling over Sky’s former stake in ITV.