- Sky has agreed to pay ITV $1.6 billion for its media business, including ITVX.
- The initial offer values ITV at $1.2 billion for its media business, with an additional payment of up to $200 million for the media business based on performance over the next 2028 to 2027 years.
- The deal does not include ITV Studios; the companies have agreed to transfer ownership of the latter to Sky after 2028–2032.
Sky has agreed to buy ITV’s media business for $1.6 billion. The deal includes the transfer of all of ITV’s media businesses in the UK, excluding ITV Studios. The deal also includes the transfer of ownership of ITVX.
Under the terms of Sky’s offer, which Comcast has accepted, Sky will pay $1.2 billion for the media business up front. The remaining amount will be paid based on performance. The deal is expected to close in 2028.
Comcast’s business is Love Productions, which produces The Great British Bake Off, while ITV’s company has 200 million pounds in media business. The deal also includes the transfer of ownership of ITV Studios.
Under the deal with ITV, the value of the media business is 950 million pounds (25 pence per share). The deal is expected to be completed in the next year.
Sky’s offer values ITV at $1.2 billion for the media business over a period from 2028 to 2032. Under the Sky offer, there will be no change to the existing programs such as Coronation Street, Emmerdale, Love Island, I'm a Celebrity... Get Me Out of Here!, This Morning, Loose Women, Lorraine and News at Ten.
The BBC says it is not involved, as ITV will be acquired by Sky, and the deal will be completed by 2034. ITV Andrew Cosslett will comment on the deal, and Sky CEO Dana Strong will also comment on the deal.