Sky to buy ITV Britain's oldest commercial television network for $2.1B

Sky is set to acquire ITV’s media and entertainment businesses in a deal worth as much as $2.1 billion, combining the UK broadcaster’s operations with Comcast-owned Sky, pending regulatory approval. Announced July 6 after eight months of talks, the agreement aims to create a single competitor able to take on global streaming services and YouTube in the British market. The transaction includes ITV’s four free-to-air channels but excludes ITV Studios, which produces shows such as “I’m a Celebrity… Get Me Out of Here” and “Mr Bates vs The Post Office.” Instead, Sky and ITV agreed to commit $2.8 billion for ITV Studios to supply content from 2028 through 2032. ITV News and Sky News will keep their editorial identities, though resource consolidation remains unclear. ITV shareholders are expected to receive about 33 cents per share, about $1.3 billion total. Comcast’s restructuring moves Sky’s Europe operations into NBCUniversal, expected to finish in summer 2027.