Sky has agreed to acquire the broadcast and streaming division of ITV for £1.6 billion [1].
The acquisition represents a significant consolidation of the United Kingdom's media landscape. By absorbing ITV's Media & Entertainment arm, Sky aims to scale its reach in a competitive digital market while ensuring ITV maintains its role as a public-service broadcaster.
The deal value is reported as £1.6 billion [1], though some estimates place the figure at up to £1.6 billion [2]. As part of the transaction, ITV shareholders are expected to receive £950 million [2]. The acquisition specifically excludes ITV's studio operations, which will remain separate from the deal.
Dana Strong, Chief Executive of Sky, said this is an extraordinary opportunity to bring together what she would say are two of the most iconic brands in media.
Sky said that the merger will create one of the largest commercial broadcasting and streaming businesses in the UK. The company intends for the move to protect the existing public-service obligations associated with ITV's broadcasting role.
The announcement came on Monday, July 6, 2026, following reports from multiple news outlets and a statement from ITV. The transition will see Sky integrate ITV's streaming infrastructure and broadcast assets into its existing ecosystem, a move designed to combat the rise of global streaming giants.
“Sky has agreed to acquire the broadcast and streaming division of ITV for £1.6 billion.”
This acquisition signals a strategic pivot for both companies as they face declining linear viewership and the dominance of global platforms. For Sky, the move secures a massive amount of domestic content and infrastructure. For ITV, selling its broadcast arm while retaining its studios allows it to transition into a leaner, production-focused entity that can sell content to various platforms without the overhead of managing a full broadcast network.
