ITV begins 'preliminary' talks over £1.6bn sale to Sky
British media giant ITV has confirmed talks over a possible sale of its broadcasting arm to Sky in a deal worth £1.6 billion.
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The group behind hit shows such as I’m A Celebrity… Get Me Out Of Here! and Love Island said there was no certainty over the terms of any possible sale of its media and entertainment division, or whether a deal would be agreed.
It comes after reports late on Thursday revealed Sky owner Comcast was holding discussions with ITV over a possible deal to buy the public service broadcaster’s media and entertainment arm, which includes its terrestrial TV channels and streaming service ITVX.
But the sale would not include ITV’s production arm, ITV Studios, which makes shows including I’m A Celebrity and the popular drama Mr Bates vs The Post Office, which has also been the subject of previous sale speculation.
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"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 statement by ITV to the London Stock Exchange said.
"A further announcement will be made in due course if appropriate.”
ITV became Britain’s first commercial television network when it began broadcasting in 1955, ending the BBC’s long-running monopoly.
Created to offer viewers more choice and introduce advertising-funded programming, it quickly became a staple of British life.
The channel went on to produce some of the nation’s most popular shows, from Coronation Street to The X Factor.