Sky to acquire ITV broadcast and streaming assets in £1.6 billion deal

Comcast’s Sky has agreed to purchase the broadcast channels and streaming service of Britain’s ITV for £1.6 billion ($2.13 billion), a transaction that significantly consolidates the United Kingdom’s television sector.

The deal, confirmed by multiple sources, encompasses ITV’s core media and entertainment division, marking a major shift in the structure of British broadcasting.

Sky CEO Dana Strong described the acquisition as a "defining moment" for British broadcasting.

The move is designed to create a unified British champion capable of competing more effectively against global digital platforms such as YouTube, Netflix, and Amazon Prime Video.

By integrating ITV’s content library and distribution channels with Sky’s existing infrastructure, the combined entity aims to strengthen its market position against international tech-driven competitors.

The acquisition represents a strategic pivot for Sky, which is seeking to bolster its domestic footprint amid intensifying competition in the streaming wars.