ITV is Engaging in Ongoing Talks with Sky About Potential Sale
ITV is currently engaged in “active discussions” with Sky regarding the potential sale of its network to the pay-TV operator.
The UK’s oldest commercial broadcaster has remained relatively silent about the negotiations in recent months. However, during a Q1 trading update this morning, ITV confirmed its ongoing position in the talks, stating it would “update the market in due course.”
ITV first announced “preliminary discussions” with Comcast-owned Sky in November of last year, concerning a surprising £1.6 billion ($2.2 billion) sale of its Media & Entertainment (M&E) segment.
Sources indicate that discussions have been ongoing, although ITV had not publicly addressed them until now. Reports suggest Sky is taking the lead on the deal, with its parent company, Comcast, involved behind the scenes. Approval from Ofcom and the Competition and Markets Authority will be required for the transaction.
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Should the deal proceed, Sky would acquire ITV’s M&E operations, which include its network, commissioning, and streaming divisions, although the Studios production and distribution unit would remain outside the sale. While some industry observers have expressed confusion about the acquisition, others see strategic value in consolidating resources.
In the same Q1 trading update, ITV reported a slight 2% decline in the M&E segment being considered for purchase, amounting to £477 million. Conversely, digital advertising revenue saw a 14% increase, bolstered by a record-breaking start to the year for ITVX, with total streaming hours up by 13%.
Additionally, ITV Studios revenue increased by 4% to reach £400 million, demonstrating particularly robust performance in the U.S. market. The update highlighted successful productions including Netflix’s Skyscraper Live, Disney+’s Rivals Season 2, and Love Island US, all completed by ITV Studios independents. However, ITV reported a quieter quarter in the UK, attributing it to a reduced volume of soap operas and daytime programming.
Overall, ITV’s revenue for the quarter remained flat at £877 million.
CEO Carolyn McCall expressed optimism for the upcoming month, citing expectations for strong advertising revenue related to the World Cup, an event ITV shares coverage for with the BBC.
“ITV maintained good momentum in the first quarter of 2026, delivering results in line with market expectations,” McCall stated. “While we are monitoring the ongoing difficult geopolitical environment, we are focused on what we can control and remain on track to deliver our full year guidance of good revenue growth in ITV Studios and strong profitable digital revenue growth in M&E.”
