Sky Owner Announces £1.6bn Takeover of ITV's Broadcasting Arm

Sky, owned by US telecom giant Comcast, announced a £1.6 billion deal to acquire ITV's broadcasting and streaming arm on July 6, 2026. This acquisition aims to establish the UK's largest commercial broadcaster by integrating ITV's free-to-air TV channels and the ITVX streaming platform into Sky's existing operations.

The initial payment for ITV's media and entertainment business will be £1.2 billion in cash. An additional payment of up to £200 million is contingent on ITV's advertising revenues in 2027, with this deferred payment due in the second half of 2028. The transaction represents a significant consolidation within the UK media landscape, bringing together two major players in television broadcasting and digital streaming.

This move by Comcast, through its subsidiary Sky, signals a strategic expansion into the UK's free-to-air television market. The combined entity is expected to leverage synergies between Sky's subscription services and ITV's advertising-supported model to enhance its market position and content offerings. The deal is subject to regulatory approvals and is anticipated to reshape the competitive dynamics among UK broadcasters.