SKY SNAPS UP ITV'S MEDIA EMPIRE IN MEGA $2.1 BILLION DEAL
Comcast's U.K. pay-TV giant Sky is taking over ITV's whole media operation — a "defining moment" that'll reshape British entertainment.
It's a done deal! According to Variety, Sky has officially agreed to buy ITV's Media and Entertainment business for up to £1.6 billion ($2.1 billion). The massive merger is expected to close in the second half of 2027 and will carve out ITV Studios as its own standalone global content powerhouse while returning roughly £950 million ($1.27 billion) to ITV shareholders.
This is being called a "defining moment for British media" — and for good reason. The acquisition will reshape how content gets made and distributed across the U.K., with Sky absorbing ITV's entertainment operations into its already-massive portfolio. It's the kind of blockbuster move that reminds us the entertainment biz is always playing chess at the highest levels.
The deal still needs regulatory approval and won't officially wrap until late 2027, so there's still some time before we see exactly how this plays out. But one thing's for sure: the landscape of British television is about to get a whole lot different.
Sources · Variety