Sky’s £1.6B ITV Deal Signals Seismic Shift in UK TV
Sky will acquire ITV’s television network operations for about £1.6 billion ($2.1B), paying £1.2B upfront with a £200M milestone; ITV shareholders receive roughly £950M in cash. ITV Studios won’t be part of the deal, but Sky will secure a £2.1B output deal with ITV Studios through 2032 and is also buying Love Productions’ producer operations via a £200M side deal. The move places Sky under NBCUniversal and will undergo antitrust review, as traditional broadcasters consolidate to compete with Netflix and YouTube, reshaping the UK’s broadcasting landscape.
