๐ Sky May Buy ITV Media Business
The British broadcaster ITV has confirmed that it is in preliminary talks with media giant Sky (owned by the US company Comcast) regarding the potential sale of its Media and Entertainment (M&E) division.
The M&E business, which includes the 70-year-old regional broadcasting network and the streaming service ITVX, is valued at ยฃ1.6 billion.
In the event of a sale, ITV would split its business into two parts: the broadcasting arm (which would go to Sky) and the studios arm (ITV Studios, which would remain).
Experts believe ITV aims to reduce its dependence on the unpredictable advertising market and focus on content production that can be sold globally.
This potential deal could be a turning point for British television, uniting ITV’s traditional channels with Sky’s extensive satellite and streaming platforms.
The news comes amid ITV’s financial difficulties: the company reported a 9% reduction in advertising budgets during the crucial pre-Christmas period.
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