Sky agrees to buy ITV's media and entertainment arm for £1.6 billion
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Summary
Sky (owned by Comcast) has agreed to acquire ITV's media and entertainment arm for up to £1.6 billion ($2.1 billion), including ITV's terrestrial TV channels and streaming service. The deal aims to create a major UK competitor to global streaming giants. ITV's production arm, ITV Studios, will remain independent.
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bskySky agrees to buy ITV's media and entertainment arm for £1.6 billionapnews.comKey quotes
· 3 pulledSky, the UK-based TV, internet and mobile phone provider owned by Comcast, has agreed to buy ITV's media and entertainment arm for up to 1.6 billion pounds ($2.1 billion) after months of talks to create a major competitor to the global streaming giants.
The deal includes the terrestrial TV channels and streaming service of ITV, Britain's largest commercial broadcaster.
ITV's production arm, ITV Studios, known for shows such as the 'I'm A Celebrity' series, will remain an independent company.
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