ITV says it will cut costs by about £30m as weak advertising demand hits its networks division ahead of its planned sale to Sky. In a Q3 trading update, the broadcaster reports that advertising revenue in the final quarter is expected to fall by 5% to 10%, with the company also forecasting weaker full-year advertising performance for 2026.
Several outlets tie the cuts to spending reductions in ITV’s fourth-quarter content budget, describing a reduction of £25m before regulatory scrutiny of the Sky takeover. Reporting highlights that the Sky deal—covering ITV’s channels and its ITVX streaming service—is “progressing as planned,” with the amount and timing of content spending framed as temporary.
Coverage across outlets largely aligns on the size of the cost package, the expected advertising decline, and the fact the cuts relate to the period before the Sky transaction is completed. Differences mainly concern which figures they foreground (whether £30m savings or the £25m content reduction) and how they frame deal timing alongside regulator reviews or broader market chill.
