Sky has agreed a deal worth up to £1.6 billion to acquire ITV's media and entertainment division, including its free-to-air channels and ITVX streaming platform.
The announcement came on 6 July 2026. The move consolidates two major British commercial players under private ownership and is framed by its backers as a necessary step to secure scale in a market dominated by overseas technology firms.
The transaction includes £1.2 billion in cash, the transfer of Love Productions valued at £0.2 billion, and up to £0.2 billion in performance-related earn-out payable in the second half of 2028 depending on 2027 advertising revenues. It covers ITV1, ITV2, ITV3, ITV4, ITV Quiz and UTV, along with the ITVX platform, and gives Sky an indirect 20 percent stake in ITN.
ITV Studios and its subsidiaries are excluded from the sale and will continue as an independent business. A separate £2.1 billion content supply agreement over five years has been struck with ITV Studios. Networking arrangements with STV are unaffected.
Regulatory and public service safeguards
The deal requires approval from Ofcom and the Competition and Markets Authority. ITV's public service broadcasting commitments, including regional and national news, are protected under existing Channel 3 licences until 2034. Channels and ITVX will remain free-to-air, with programmes such as I'm a Celebrity and Coronation Street continuing to be available without charge.
ITV News and Sky News will keep their distinct editorial voices. The combined business is projected to represent around 20 percent of UK in-home viewing and deliver approximately £200 million in annual cost synergies by the end of the third year after completion.