ITV in talks with Sky Over £1.6bn Sale of Media and Entertainment Business
UK commercial broadcaster ITV is in early talks over selling its media and entertainment business to Sky, the pay-TV heavyweight, for £1.6 billion ($2.1 billion).
ITV has confirmed it is indeed in “preliminary discussions” with Sky, and if such a deal goes through, the UK’s TV and broadcasting picture would be significantly redrawn.
(Image: ITV covers a diverse range of properties from sports such as cycling, electric motor racing, horse racing, and darts. (Alan Crowhurst/Getty Images))
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Sky in Talks to Acquire ITV Broadcasting Rights in Landmark deal
Sky and ITV are reportedly in discussions regarding a potential deal that would see Sky acquire a important portion of ITV’s sports broadcasting rights. This move comes as ITV seeks to reduce costs and restructure its business.
The rights under consideration include coverage of Formula 1, the NFL, the English home cricket season, and golf’s Ryder Cup, currently held by ITV. ITV also shares broadcasting rights for major international soccer tournaments, including the men’s and women’s FIFA World Cup, with the BBC. Beyond soccer, ITV covers cycling, electric motor racing, horse racing, and darts. https://www.sportcal.com/news/sky-in-talks-to-acquire-itv-broadcasting-rights/
The proposed deal would allow Sky to offer a wider range of viewing options to its customers, encompassing free-to-air, pay-TV, and streaming services.Notably, the potential agreement does not include ITV Studios, ITV’s production arm. https://www.sportcal.com/news/sky-in-talks-to-acquire-itv-broadcasting-rights/
This news follows ITV’s recent announcement of a planned £35 million ($40.5 million) cost-saving initiative. https://www.sportcal.com/news/sky-in-talks-to-acquire-itv-broadcasting-rights/ Further adding to the financial pressures, Liberty Global, a major ITV shareholder, sold half of its 10% stake in the company in october. https://www.sportcal.com/news/sky-in-talks-to-acquire-itv-broadcasting-rights/
sign up for our daily news round-up! Give your business an edge with our leading industry insights. https://www.sportcal.com/newsletter-signup/ (Link to newsletter signup)
Related reading