Sky has confirmed its purchase of ITV’s media and entertainment operations in a transaction valued at £1.6 billion. Popular programmes are set to stay available without charge until at least 2034. The agreement ranks among the largest acquisitions in UK broadcasting history and signals further consolidation among domestic networks seeking to rival global streaming services. Executives from both companies stated the combination will improve their competitive position against international platforms. Sky chief executive Dana Strong indicated that major ITV series such as Coronation Street, I’m a Celebrity…Get Me Out of Here! and Love Island will continue on free-to-air channels through the expiry of current public service obligations in 2034. She added that flagship content is expected to maintain continuity for audiences. Strong also noted plans to offer selected Sky Sports events on ITV at no cost, aiming to expand reach and interest in sport. The transaction covers ITV’s linear channels and the ITVX streaming platform, yet excludes the production studios division responsible for shows including Love Island and I’m a Celebrity…Get Me Out of Here!, which will remain independent. Sky will gain additional viewers and greater prominence on a free-to-air service. Strong remarked that if audiences continue to enjoy Coronation Street in a decade, further negotiations with ITV Studios would seek to keep the series on ITV and preferably free to air, while a five-year content agreement provides interim certainty. Some sports rights currently held by Sky may move to ITV to grow audiences. Former ITV chairman Sir Peter Bazalgette described the deal as necessary for long-term viability amid competition from well-resourced international groups. He argued that domestic consolidation is required to sustain investment in news and popular programming. The transaction still requires regulatory clearance. Upon completion, ITV Studios will operate separately. ITV will receive £1.2 billion in cash plus Sky’s Love Productions unit, valued at £200 million, along with a potential further £200 million payment in 2028 contingent on advertising performance. Sky has pledged £2.1 billion in content spending from ITV Studios over five years to secure future programming supply. Investment strategist Susannah Streeter observed that traditional broadcasters are adapting quickly as viewer attention fragments across multiple platforms, complicating advertising revenue models.
