The agreement encompasses ITV’s terrestrial TV channels and its streaming service. Nevertheless, ITV Studios, the broadcaster’s production division famous for programs like I’m A Celebrity…, will function as an independent entity.
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Sky, the UK-based television, internet, and mobile provider under Comcast ownership, has reached an agreement to acquire ITV’s media and entertainment division for as much as £1.6 billion (US$2.1 billion) after extensive negotiations to establish a significant competitor to global streaming leaders.
The arrangement covers ITV’s terrestrial TV channels and streaming services. However, ITV Studios, the broadcaster’s production branch known for hits like I’m A Celebrity…, will maintain its independent status.
This deal will “forge a UK frontrunner with the capacity and tools to better contend with international streaming services,” stated ITV Chairman Andrew Cosslett in an announcement.
Upon the completion of Comcast’s proposed separation, the merged Sky-ITV entity will be integrated into NBCUniversal, as indicated by ITV.
