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Comcast's Sky to Acquire ITV Networks, Streaming Unit
The Hollywood Reporter • • general
Key Points:
- Comcast's Sky has agreed to acquire ITV's media and entertainment unit for £1.6 billion ($2.13 billion), covering ITV's networks and streaming businesses but excluding its production arm, ITV Studios.
- The deal will make ITV Studios a standalone company, which is acquiring Love Productions, known for The Great British Bake Off and The Piano, to strengthen its intellectual property portfolio.
- Sky, led by CEO Dana Strong, operates pay-TV and streaming services in the UK, Ireland, and Italy, and is expanding its telecom offerings, while its production division, Sky Studios, continues investing in original content.
- ITV Studios produces popular shows like Love Island and Britain's Got Talent and has been the subject of separate acquisition interest following the recent merger of production companies Banijay and All3Media.
- Comcast acquired Sky in 2018, and the current deal reflects ongoing consolidation in the UK media and entertainment sector amid increased competition and investment in content creation.
