Sky has announced a £200 million cost-saving initiative following its £1.6 billion acquisition of ITV’s media and entertainment division, including its terrestrial channels and the ITVX streaming service.
The plan includes potential job cuts, though the company has not specified the number of roles affected.
This move marks a significant shift in operational strategy as Sky integrates the broadcaster’s assets into its own portfolio.
The restructuring underscores the financial pressures accompanying the consolidation of the UK’s television market.
By targeting substantial savings, Sky aims to streamline operations and improve efficiency across the newly acquired business units.
Investors are likely to view this as a necessary step to realize synergies from the deal, which has been valued at up to £1.6 billion.