ITV posts modest revenue rise and launches £100m share buyback after Sky deal

ITV announced a 2% first-half revenue increase and a £100 million share repurchase, framing it as a commitment to shareholder returns following Sky’s £1.6 billion acquisition of its broadcast assets.

ITV posted a 2% rise in first-half revenue and unveiled a £100 million share buyback, describing it as evidence of its dedication to delivering attractive returns after Sky agreed to purchase its network and streaming businesses for £1.6 billion. The company also announced a 1.7p interim dividend, amounting to roughly £60 million, which it said represents an early portion of the £950 million cash return pledged upon completion of the sale.

CEO Carolyn McCall called the sale a defining moment for ITV and suggested it would free up value for ITV Studios, which is excluded from the deal but will receive a £2.1 billion content purchase commitment from Sky between 2028 and 2032. The merger still requires clearance from the UK Competition and Markets Authority, and a public-interest intervention notice from Culture Secretary Lisa Nandy is expected. Under the proposed structure, Sky will acquire ITV’s broadcast channels and the ITVX platform, while ITV Studios will spin off as an independent listed company, positioning the combined entity alongside Comcast’s NBCUniversal assets. Advertising revenue grew modestly, bolstered by World Cup coverage and strong streaming engagement, while ITV Studios saw mixed regional performance.