ITV in Talks to Sell Networks Arm to Comcast-Owned Sky for $2.1 Billion
U.K. broadcaster ITV has confirmed it has received a £1.6 billion ($2.1 billion) bid from Comcast’s European pay-TV platform Sky for it media and entertainment unit.
The shock news — which landed overnight in the U.K. — would see Comcast take control of ITV’s linear channels and its ITVX streaming business and significantly expand its foothold in the British TV landscape, having already acquired Sky for around $30 billion in 2018.
In a short statement sent Friday morning, ITV it note “the recent press speculation and confirms that it is in preliminary discussions regarding a possible sale of its M&E business to Sky for an enterprise value of £1.6bn.”
It added: “There can be no certainty as to the terms upon which any potential sale may be agreed or whether any transaction will take place. A further announcement will be made in due course if appropriate.”
More to follow.
