- ITV has agreed to sell its media and entertainment division, which includes its terrestrial TV channels and streaming service ITVX, to Sky for up to £1.6 billion.
- The deal aims to combine the division with Sky to create a significant competitor against global streaming platforms in the UK.
- ITV Studios, the production arm responsible for shows like 'I’m A Celebrity' and 'Mr Bates Vs The Post Office', is not included in the sale and will become a "pure-play global content business" listed on the London Stock Exchange.
- Under the agreement, Sky will pay £1.2 billion for the broadcasting unit and sell its Love Productions business, makers of 'The Great British Bake Off', to ITV for £200 million.
- Sky, owned by US media giant Comcast, has committed to investing at least £2.1 billion between 2028 and 2032 into the partnership, with ITV potentially receiving an additional £200 million based on advertising sales.
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