Sky has agreed terms to acquire ITV Media and Entertainment from ITV plc, a move set to reshape the UK’s commercial streaming landscape.
The combined business will account for around 20% of all in-home viewing in the UK, placing it just behind the BBC and ahead of YouTube.
This scale is expected to help the new entity compete more effectively with global streaming platforms and digital giants.
ITV’s channels and ITVX will remain free-to-air, with all public service broadcasting commitments continuing in full.
Audiences can expect continued access to well-known programmes such as Coronation Street, Emmerdale, Love Island, and News at Ten, as well as major live sporting events.
ITV News and Sky News will continue to operate as distinct editorial voices, maintaining trusted journalism for UK audiences.
Sky has committed to a £2.1 billion content supply agreement over five years with ITV Studios, supporting ongoing investment in British programming and sustaining jobs and skills within the UK’s creative industries.
Programming acquired under this agreement will not count towards ITV’s independent production quotas, ensuring opportunities remain for independent producers.
Dana Strong, Sky Group CEO, described the deal as: “a defining moment for British media and an opportunity to build a stronger future for two of the UK’s most loved and trusted brands.”
Carolyn McCall, Chief Executive Officer of ITV plc, said: “This transaction builds on that momentum to deliver clear, tangible value for shareholders.
“At the same time, through the commitments made by Sky, the combined ITV M&E / Sky business will continue to deliver everything about ITV that our viewers and advertisers love and value.”
The transaction is expected to generate approximately £200 million in annual cost synergies by the end of the third year after closing, mainly through efficiencies in marketing, technology platforms, and non-UK content.
The deal remains subject to customary conditions and regulatory approvals, with further details to be announced in due course.
