Sky in Talks to Buy ITV’s M&E Business

ITV has confirmed that it is in preliminary discussions with Sky on the possible sale of its media and entertainment business for £1.6 billion.

ITV’s media and entertainment business includes its free-to-air channels and streaming service ITVX. The deal would not include ITV Studios.

“There can be no certainty as to the terms upon which any potential sale may be agreed or whether any transaction will take place,” a letter from ITV said. “A further announcement will be made in due course if appropriate.”