ITV in Early Talks to Sell TV Business to Comcast’s Sky in $2.15 Billion Deal

British broadcaster ITV has entered preliminary discussions with Sky, the UK pay-TV and streaming operator owned by Comcast, over a potential sale of its television business valued at around 1.6 billion pounds ($2.15 billion). The talks, which remain at an early stage, come as both companies explore new strategies to strengthen their positions in an increasingly competitive global media landscape dominated by streaming giants such as Netflix, Amazon, and Disney.

According to people familiar with the matter, the negotiations focus on ITV’s traditional broadcast and production assets, which include its flagship ITV1 channel and regional television network. The move is part of ITV’s ongoing efforts to streamline its operations and accelerate its shift toward digital streaming through its on-demand platform, ITVX.

Executives from both sides have emphasized that no formal agreement has been reached, and discussions could still fall through. “These are preliminary talks exploring strategic options,” said a source close to ITV. “The company is looking at ways to unlock value for shareholders while ensuring that its content and production strengths remain central to its business model.”

Sky, one of Europe’s leading entertainment and broadband providers, is reportedly interested in ITV’s broadcast arm as part of a broader plan to expand its original content portfolio and strengthen its advertising reach across the UK and Ireland. Analysts said a deal could allow Sky to integrate ITV’s extensive network and production capabilities into its existing infrastructure, creating a stronger counterweight to global streaming platforms.

“This potential acquisition makes strategic sense for Sky,” said a media analyst at Enders Analysis. “It would expand its free-to-air presence in the UK and give it access to ITV’s vast production library, which could be leveraged across Sky’s streaming services.”

For ITV, a sale of its TV operations would represent a significant turning point in its 68-year history as one of Britain’s best-known broadcasters. The company has been under pressure from investors to modernize its business model as traditional television advertising revenues decline. In recent years, ITV has invested heavily in its digital streaming platform ITVX, launched in 2022, to compete more effectively in the online entertainment market.

The broadcaster’s leadership, led by Chief Executive Carolyn McCall, has been pursuing partnerships and digital transformation initiatives aimed at boosting subscription-based income and expanding content production through its ITV Studios division. Analysts said the sale proceeds could be used to further develop ITVX and strengthen the studio’s global footprint.

Comcast, Sky’s US-based parent company, is also seeking new growth avenues as competition intensifies among streaming providers. Acquiring ITV’s television assets would enhance Sky’s ability to offer a wider range of free and premium content, potentially driving audience growth across its digital platforms.

Industry observers note that any deal would require regulatory approval from the UK government and media watchdog Ofcom, given ITV’s national significance. “This is a politically sensitive asset,” said one London-based analyst. “Any buyer would need to ensure that ITV’s public service broadcasting obligations and UK-based production commitments are maintained.”

While both companies have declined to comment publicly, investors will be watching closely for updates in the coming weeks. Shares in ITV rose slightly in early trading following reports of the talks, reflecting optimism that a deal could unlock new value for the company’s stakeholders.