Sky agrees to buy ITV’s media and entertainment arm for up to £1.6bn

The $2.13 proposed billion acquisition of ITV would redraw the UK's advertising map. Advertisers are still waiting to hear what's in it for them.

The blockbuster deal separates two things that made ITV unusually powerful — its network and its studio — and raises uncomfortable questions about the future of British television.

July 7 - Sky's £1.6 billion takeover of ITV's broadcasting arm could reshape the future of England's television coverage, bringing the majority of the national team's matches under the same corporate umbrella as the Premier League and EFL. The post Sky completes £1.6 billion takeover of ITV’s broadcasting arm  appeared first on Inside World Football.

Comcast-owned Sky will acquire ITV’s media and entertainment divisions in a £1.6 billion deal. ITV’s broadcast channels and the ITVX streaming service will remain free-to-air. Negotiations started back in November and this is what the two companies agreed on. Sky will pay ITV £1.2 billion in cash and it will transfer Love Productions (which makes The Great British Bake Off among other things). Additionally, Sky will pay £200 million to ITV in 2028, though that is dependent on meeting advertising revenue goals. This acquisition does not include ITV’s studio arm. That said, as part of...

Sky’s £1.6 billion ITV deal is a bet that mass reach, not content alone, is the last scarce asset in British television.

Sky’s planned £1.6 billion ($2.1 billion) takeover of ITV is an unprecedented coming together in British media, establishing the UK’s biggest commercial broadcaster. The two companies aim to complete their union next year, creating what they described as a British “streaming champion,” even if their respective businesses are tied up in legacy linear television networks. […]