Comcast's Sky to Buy ITV Media Arm for $2.14 Billion, Challenging Streamers

Comcast’s Sky division agreed to acquire ITV’s media and entertainment business for up to £1.6 billion ($2.14 billion). The transaction includes an upfront cash payment of £1.2 billion ($1.6 billion). Remaining funds are contingent on future advertising performance.

The deal merges ITV’s free-to-air channels and ITVX streaming service with Sky’s pay-TV platforms. This combination creates a British media powerhouse with the scale to compete against Netflix, Amazon, and Disney.

The acquisition follows Comcast’s recent announcement to spin off NBCUniversal and Sky into a separate company. ITV Studios is excluded from the deal and will continue to operate as an independent production company.

The transaction requires regulatory approval and is expected to close in the second half of 2027.