Comcast’s Sky in Talks to Acquire ITV’s Media and Entertainment Unit for £1.6 Billion

Comcast’s Sky in Talks to Acquire ITV’s Media and Entertainment Unit for £1.6 Billion

In a significant development for the U.K. media landscape, Comcast’s European pay-TV subsidiary, Sky, is reportedly in preliminary discussions to acquire ITV’s media and entertainment (M&E) division for an enterprise value of £1.6 billion (approximately $2.1 billion). ITV confirmed the talks in a statement released early Friday morning London time.

The M&E business encompasses ITV’s commercial free-to-air television channels in the U.K. and its streaming platform, ITVX. However, the division has faced challenges, with revenue for the first nine months of 2025 declining by 5% year-on-year to £1.45 billion ($1.90 billion).

Notably, the deal would not include ITV Studios, the powerhouse behind popular shows such as Love Island, Britain’s Got Talent, and the Netflix hit Fool Me Once. ITV Studios has been a focal point of acquisition discussions in recent years, with various companies, including Banijay and RedBird IMI, rumored to be interested in a purchase.

Sky, under the leadership of CEO Dana Strong, operates pay-TV and streaming services across the U.K., Ireland, and Italy, while also expanding its telecom offerings, including broadband and mobile services. The company has been investing heavily in original content through its production arm, Sky Studios, which has produced notable titles like Mary & George and The Tattooist of Auschwitz.

While ITV confirmed the ongoing discussions, it cautioned that there is no certainty regarding the terms of any potential sale or whether a transaction will ultimately occur. “A further announcement will be made in due course if appropriate,” ITV stated.

The news of the potential acquisition comes on the heels of ITV’s announcement on Thursday regarding plans for $46 million in temporary cost savings due to a “softer” advertising demand anticipated in the fourth quarter.

Comcast’s interest in ITV’s M&E division aligns with its broader strategy, as the company is also reportedly exploring a bid for parts of Warner Bros. Discovery. Recent reports indicate that Comcast has enlisted Goldman Sachs and Morgan Stanley to assess a possible acquisition of the Hollywood conglomerate’s studio and streaming businesses.

As the media landscape continues to evolve, the outcome of these discussions could have far-reaching implications for both ITV and Sky, as well as the broader entertainment industry in the U.K. and beyond.