ITV to sell its media assets to Sky, creating a new UK streaming rival

ITV confirmed that Sky will buy its media division, including all terrestrial TV channels and the ITVX streaming service, a deal first struck in July. The transaction creates a sizable UK challenger to international streaming giants, while ITV Studios will be spun off as a pure-play content company listed on the London Stock Exchange, maintaining a long-term supply agreement with the new combined operation. ITV chief executive Dame Carolyn McCall explained that the move reflects a deepening partnership with Sky and the need to adapt to fierce competition and investment demands.

She noted that the sale does not constitute a merger, but a purchase of ITV's media and entertainment assets. Sky Studios head Cecile Frot-Coutaz highlighted the vision of a dedicated British streaming platform, noting increased investment in UK content since Comcast took ownership of Sky in 2018.