Sky has agreed to buy ITV's media and entertainment business for £1.6 billion base with up to an additional £200 million earn-out, gaining its broadcast channels and ITVX platform. The move aims to build scale against streaming giants and YouTube but faces regulatory scrutiny over media plurality.
Sky will also gain control of Love Productions, the company behind the Great British Baking Show and competitions such as the Great British Sewing Bee.
https://x.com/engadget/status/2074107355063546006
If regulators approve the deal, the new business would sit behind the BBC and ahead of YouTube.
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