COMCAST IN TALKS TO BUY ITV’S BROADCASTING BUSINESS – The parent company for Sky is in preliminary talks about the deal of an estimated £2 billion
The British television landscape could be heading for a major shake-up.
U.S. media giant Comcast — the parent company of Sky — is now in early talks to acquire the broadcasting arm of ITV… in a deal reportedly worth around two billion pounds.
If this goes ahead, Comcast would take control of ITV’s commercial TV channels and its streaming platform, ITVX.
But importantly — ITV Studios — the powerhouse behind “Love Island,” “I’m a Celebrity,” and the award-winning drama “Mr Bates vs The Post Office” — would not be part of the sale. ITV Studios is being handled separately — fuelling growing speculation that ITV may be preparing to split its businesses entirely.
This development comes at a difficult financial moment for ITV.
The broadcaster recently announced a “temporary” £35 million budget cut — and is forecasting a nine per cent slump in advertising revenue during the key run-up to Christmas. Advertising still makes up most of ITV’s income.
If Comcast moves forward — analysts say this could completely reshape how British audiences watch content — and force major changes in how brands spend their advertising budgets in the UK media market.
