Sky and ITV Agree £1.6B Deal for ITV's Media & Entertainment Arm; Love Productions to Join ITV Studios
By
Max Goldbart
Summary
Sky and ITV have agreed terms on a £1.6 billion ($2.1B) deal for ITV's Media & Entertainment arm, with an official announcement expected within two weeks. As part of the agreement, Love Productions — the producer of 'The Great British Bake Off' — will be sold to ITV Studios. The deal, which has been in discussion since last year and was confirmed to be in 'active discussions' in May, is now being finalized and is set to shake up British broadcasting.
Source
DeadlineSky and ITV Agree £1.6B Deal for ITV's Media & Entertainment Arm; Love Productions to Join ITV Studiosdeadline.comKey quotes
· 3 pulledSky and ITV have agreed terms over their £1.6B ($2.1B) acquisition deal and the move that will shake up British broadcasting could be announced in the next fortnight, according to Reuters.
As part of the deal, Reuters confirmed previous reporting that The Great British Bake Off producer Love Productions will be sold to ITV Studios.
The deal is for ITV's Media & Entertainment arm, not its Studios production and distribution division, and it first emerged late last year.
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