ITV in talks to sell television business to Sky

ITV said it was in “preliminary talks” to sell its television business to Sky for £1.6bn.

The talks focus on ITV’s Media and Entertainment division, which includes TV channels as well as streaming service ITV X.

The talks with Sky, owned by US-based Comcast, come at a time when the television industry faces fierce competition from streaming services such as Netflix and Disney+.

The deal does not include ITV’s production arm ITV Studios, which produces popular shows such as Love Island and I’m a Celebrity… Get Me Out of Here.

On Thursday ITV said it forecast advertising revenue would be 9% lower in the final three months of 2025 as advertisers remain cautious ahead of tax increases expected in the Budget.

Media analyst Ian Whittaker told the BBC that the combination of Sky and ITV would mean they would have “more than 70%” of the UK TV advertising market, which would be rejected by regulators “in normal circumstances” because of the dominance it would give them.

But when asked about the future of TV, he added that the takeover could almost be seen as a rescue deal.

Universal Studios owner Comcast acquired Rupert Murdoch’s Sky in 2018 and is a major player in the US media landscape.

It owns NBCUniversal, which includes channels NBC and CNBC, DreamWorks Animation, and streaming service Peacock.