Comcast’s Sky to acquire most of ITV: Report

Comcast-owned Sky has reached terms to acquire ITV’s broadcast and streaming business in a deal valued at about £1.6 billion, according to Reuters, citing two people familiar with the matter.

The transaction would give Sky control of ITV’s Media & Entertainment unit, which includes ITV’s linear channels and ITVX streaming platform. ITV Studios would remain separate and acquire Love Productions, the Sky-owned producer behind “The Great British Bake Off” and “The Piano.”

If finalized, the deal would represent a significant consolidation, mirroring a flurry of merger activity among media outlets in the U.S. 

It would also represent another big overseas move for Comcast, which won control of Sky Group in 2018 after a bidding war. From 2016 to 2022, NBCUniversal held a stake in Euronews, but sold that in favor of plans to launch an international news service thanks to its newly-forged alliance with Sky. That projects was later scrapped, however. 

The agreement was being finalized by lawyers after talks moved forward during the week of June 22, 2026, the people told Reuters. The deal could be announced within two weeks, though one source cautioned the timing could change because of legal issues still being resolved.

The overall transaction value includes ITV Studios’ acquisition of Love Productions, which could be valued between £80 million and £120 million, along with a performance-based earn-out. Reuters previously reported that the deal could include about £200 million tied to the ITV unit’s future performance.

The combination would strengthen Sky’s position in the U.K. streaming market as it looks to compete more directly with Netflix, YouTube, Amazon Prime Video and Disney+. ITV shares rose 2.9% on June 25, 2026, after the Reuters report, giving the company a market value of about £3.1 billion.

ITV and Sky declined to comment to Reuters. Comcast did not respond to request for comment.

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