July 6 (THEWILL) — British media company Sky, owned by US media giant Comcast, announced on Monday, July 6, that it has agreed to buy the Media and Entertainment business of Independent Television (ITV) in a deal worth up to £1.6 billion, bringing together two of the UK’s biggest broadcasters.
The acquisition includes ITV’s free-to-air channels and streaming service ITVX.
However, ITV Studios, the production company behind hit shows such as “Love Island”, “I’m a Celebrity… Get Me Out of Here!” and “Coronation Street”, is not part of the deal and will remain a standalone business.
Sky said ITV’s channels will remain free to watch, while popular programs including “Coronation Street”, “Emmerdale”, “Love Island”, “I’m a Celebrity… Get Me Out of Here!”, “This Morning” and “Lorraine” will continue to air as normal.
ITV News will also remain editorially separate from Sky News.
The companies said the deal will create a stronger British media business that can better compete with global streaming platforms such as Netflix, Disney+ and YouTube.
Sky also confirmed it will continue buying programs from ITV Studios under a long-term content agreement, supporting the production of British content.
The deal is subject to regulatory and competition approval before it can be completed.
Evi Ben Ezaga writes on entertainment, culture, and trending stories.
