Sky owner announces £1.6bn takeover of ITV’s broadcasting arm

US telecom giant Comcast to snap up free-to-air TV channels and streaming platform to create UK’s biggest commercial broadcaster

Sky has announced a long awaited £1.6bn deal to buy ITV’s broadcasting and streaming arm to create the UK’s biggest commercial broadcaster.

Sky, which is owned by the US telecoms company Comcast, will pay £1.2bn in cash initially for ITV’s media and entertainment business, which include its free-to-air TV channels in the UK and ITVX streaming platform. It has agreed to pay a further up to £200m in the second half of 2028, depending on 2027 advertising revenues.