Comcast’s Sky to acquire ITV media arm in $2.1 billion deal
ITV will receive £1.2 billion in cash on completion
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Published: Jul 6, 2026 12:58 PM | 1 min read
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- Comcast-owned Sky has agreed to acquire ITV's Media & Entertainment business for up to £1.6 billion ($2.14 billion), with the deal expected to close in the second half of 2027.
- ITV will receive £1.2 billion in cash upon completion, plus a potential earn-out of up to £200 million based on advertising performance in the 2027 financial year.
- ITV will spin off ITV Studios into a separate London-listed company, while retaining Love Productions within the studios business.
- Post-sale, ITV will focus on content production, supplying programming to Sky and other platforms, with a commitment to invest at least £2.1 billion between 2028 and 2032.
Comcast-owned Sky has agreed to acquire ITV’s Media & Entertainment business in a deal valued at up to £1.6 billion ($2.14 billion). As per media reports, the deal is expected to close in the second half of 2027.
Under the terms of the agreement, ITV will receive £1.2 billion in cash on completion, along with a potential earn-out of up to £200 million tied to advertising performance in the 2027 financial year.
As part of the transaction, ITV will spin off ITV Studios into a separate London-listed company, while The Great British Bake Off producer Love Productions will be retained within the studios business.
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Following the sale, ITV will operate primarily as a content production company, supplying programming to Sky and other global platforms.
The combined ITV M&E and Sky business has committed to invest at least £2.1 billion between 2028 and 2032.
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