Faarea MasudBusiness reporter
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ITV has said it is in “preliminary” discussions to sell its television business to Sky for £1.6bn.
The talks focus on ITV’s Media and Entertainment division, which include its TV channels as well as its streaming service, ITV X.
The discussions with Sky, which is owned by US-based Comcast, come as the television industry faces fierce competition from streaming services such as Netflix and Disney+.
The deal would not include ITV’s production arm – ITV Studios – which makes popular programmes such as Love Island and I’m a Celebrity… Get Me Out of Here.
On Thursday, ITV said forecast that its advertising revenue would be 9% lower in the last three months of 2025, with advertisers cautious ahead of expected tax rises in the Budget.
Media analyst Ian Whittaker told the BBC that a combination of Sky and ITV would mean that had “70% plus” of the UK TV advertising market, which he said “in normal circumstances” would be rejected by regulators because of the dominance it would give them.
But he added that with questions hanging over the future of TV, a takeover could be seen as almost a rescue deal.
Comcast, which owns Universal Studios, bought Rupert Murdoch’s Sky in 2018 and is a major player in the US media landscape.
It owns NBCUniversal, which contains the NBC and CNBC channels, DreamWorks Animation and streaming service Peacock.
