Sky agrees £1.6bn deal to acquire ITV's broadcast & streaming business

Jonathan Victoria • 07 Jul 2026 News

The proposed Sky-ITV deal could change the face of British television for years to come.

One of the biggest shake-ups in British television history has been confirmed, with Sky agreeing a deal worth up to £1.6 billion to acquire ITV's Media & Entertainment business, including its free-to-air channels and the ITVX streaming platform.

The landmark agreement is expected to reshape the UK television landscape by bringing two of the country's biggest broadcasters under the same umbrella, creating what Sky describes as a stronger British competitor to global streaming services such as Netflix, Disney+ and Amazon Prime Video.

The deal includes ITV1, ITV2, ITV3, ITV4 and ITVX, but does not include ITV Studios, the production company behind programmes including Love Island, I'm a Celebrity... Get Me Out of Here! and Mr Bates vs The Post Office. ITV Studios will instead continue as an independent, publicly listed business.

Sky will pay £1.2 billion in cash when the acquisition completes, with up to £200 million more depending on ITV's advertising performance in 2027. 

As part of the wider agreement, Sky's Love Productions - the company behind The Great British Bake Off - will transfer to ITV Studios.

What does it mean for viewers?

For viewers, there should be very little immediate change.

Sky has committed to keeping ITV's public service broadcasting commitments in place, meaning its flagship channels and many of its biggest programmes will remain free to watch. The company has also stated there are no plans to move popular shows such as Coronation Street, Emmerdale, Love Island or major sporting events behind a paywall.

ITVX will also continue to operate as part of the acquisition, although many industry experts expect Sky to look at closer integration between its streaming services over time as it looks to strengthen its position against international rivals.

The deal isn't finished yet

Despite the announcement, the takeover is not yet complete.

The transaction is still subject to approval from regulators, including Ofcom and the Competition and Markets Authority (CMA), with completion expected in the second half of 2027 if it receives the green light.

If approved, which it is expected to be, the acquisition will mark the end of ITV's 70-year run as an independent broadcaster and represents one of the most significant changes to UK television since the arrival of streaming services. 

Whether it ultimately leads to a better viewing experience remains to be seen, but there's little doubt the deal signals a new era for British broadcasting.