ITV agrees to sell its media and entertainment arm to Sky for up to £1.6bn
ITV agreed to sell its media and entertainment division — its broadcast channels and the ITVX streaming service — to Sky, the Comcast-owned broadcaster, in a deal valued at up to £1.6bn. The consideration comprises £1.2bn in cash, the Great British Bake Off producer Love Productions valued at about £200m, and up to £200m in performance-related earn-out. ITV said the sale would deliver a significant cash return to shareholders.
Notably, ITV’s studios arm — which makes programmes such as Love Island and I’m a Celebrity — is not part of the deal, leaving ITV as a content producer while Sky absorbs the channels and streaming platform. Comcast first opened talks in November. The transaction is subject to regulatory approval and is expected to complete in the second half of 2027.
The structure reflects where value now sits in broadcasting: distribution and streaming are being consolidated into a larger rival to global platforms, while the production studio ITV retains is the asset with the clearest standalone revenue.