ITV strikes deal to sell media arm to Sky, EasyJet and Castlelake reach takeover agreement

ITV reached a deal to sell its media and entertainment business to Comcast-owned Sky for up to £1.6bn, aligning the broadcaster’s assets with a larger NBCUniversal plan. The FTSE 100 was expected to open 11.7 points lower after finishing the previous session up 0.25% at 10,679.03. ITV said that following Comcast’s planned separation, Sky and ITV’s M&E business are expected to become part of NBCUniversal once both transactions complete. In parallel, easyJet and Castlelake said they reached an agreement in principle on a takeover of the budget airline after Castlelake tabled a fifth offer at £6.90 a share. Separately, Raspberry Pi named Tim Powell as chief financial officer, effective 16 October, succeeding Richard Boult. Powell brings more than 20 years of leadership experience, including roles as CFO of Alpha Group and managing its move to the Main Market and subsequent sale to Corpay.