Comcast’s Sky in Advanced Talks to Acquire ITV’s Media Arm for $2.15B

Sky, the European subsidiary of U.S. media giant Comcast (CMCSA), is nearing a deal to acquire the media and entertainment division of UK broadcaster ITV (GB:ITV) in a transaction valued at approximately $2.15 billion, including debt. The potential acquisition sent ITV shares soaring over 15% in London trading, while Comcast’s stock saw marginal gains in pre-market activity.

The deal WOULD significantly expand Sky’s content library and solidify Comcast’s position in the UK entertainment market, establishing Sky as the country’s largest commercial broadcaster. ITV’s Media & Entertainment division—home to free-to-air channels and the ITVX streaming platform—would bolster Sky’s advertising-driven offerings, though ITV Studios is not part of the negotiations.

Bloomberg first reported the discussions, which ITV later confirmed as preliminary. The MOVE underscores Comcast’s strategic focus on scaling its European footprint through targeted acquisitions in high-growth media segments.