ITV and Sky in Hot Talks Over Potential Sale – Inside Details Here!

ITV continues to engage in “active discussions” with Sky concerning a potential sale of its broadcasting operations to the satellite TV heavyweight.

Britain’s longest-standing commercial TV network has been tight-lipped about the transaction in recent times but mentioned its ongoing status in a Q1 financial update this morning. The company announced it will “update the market when appropriate.”

Initial “preliminary discussions” about a startling £1.6 billion ($2.2 billion) sale of its Media & Entertainment (M&E) division to Comcast-owned Sky were confirmed by ITV last November.

Since then, insiders have revealed that discussions have been progressively advancing behind the scenes, with this being the first time ITV has publicly commented on it recently. Reports indicate that Sky, with Comcast subtly involved, is taking a leading role in the negotiations. Approval from regulatory bodies such as Ofcom and the Competition Markets Authority will be required for the deal to proceed.

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The proposed acquisition would involve Sky taking over ITV’s M&E sector, which includes its network, commissioning, and streaming operations, but not its Studios production and distribution branch. When the bid was first introduced last year, it caused some confusion within the industry, though some analysts saw the strategic benefit in terms of expansion.

This update was part of ITV’s Q1 trading summary, which showed a slight 2% decrease in the M&E division that Sky intends to acquire, with revenues falling to £477 million. However, a promising sign was the 14% increase in digital advertising revenues, buoyed by a record start to the year for the streaming service ITVX, with total streaming hours rising by 13%, according to ITV.

Meanwhile, ITV Studios reported a 4% revenue increase to £400 million. It performed exceptionally well in the U.S. during the first quarter, delivering major productions like Netflix’s Skyscraper Live, Disney+’s Rivals Season 2, and Love Island US, all produced by ITV Studios independents. However, it experienced a quieter period in the UK, with reduced output in soaps and daytime shows.

ITV’s total revenue for the quarter remained steady at £877 million.

CEO Carolyn McCall expressed optimism for a robust July, spurred by advertising linked to the soccer World Cup, which ITV will cover alongside the BBC.

“ITV has maintained positive momentum in the first quarter of 2026, achieving results that meet market expectations,” McCall stated. “Despite the challenging geopolitical climate, our focus is on what we can control, and we are on course to meet our annual forecasts, which include strong revenue growth in ITV Studios and substantial profitable growth in digital revenues within the M&E sector.”