The deal includes ITV’s terrestrial television channels and streaming service. However, ITV Studios, the broadcaster’s production arm known for shows such as I’m A Celebrity…, will remain an independent company.
1 Min Read
Sky, the UK-based TV, internet and mobile phone provider owned by Comcast, has agreed to buy ITV’s media and entertainment arm for up to £1.6 billion (US$2.1 billion) after months of talks to create a major competitor to global streaming giants.
The deal includes ITV’s terrestrial television channels and streaming service. However, ITV Studios, the broadcaster’s production arm known for shows such as I’m A Celebrity…, will remain an independent company.
The transaction will “create a UK champion with the scale and resources to better compete with global streaming platforms,” ITV Chairman Andrew Cosslett said in a statement.
Following the completion of Comcast’s planned split, the combined Sky-ITV entity will become part of NBCUniversal, ITV said.