Copyright The Hollywood Reporter
Comcast’s European pay-TV business Sky is in talks to acquire U.K. TV giant ITV’s media and entertainment (M&E) unit. In a statement early Friday morning London time, ITV said it “is in preliminary discussions regarding a possible sale of its M&E business to Sky for an enterprise value of £1.6 billion,” which translates to $2.1 billion. The M&E business includes ITV’s commercial free-to-air TV channels in the U.K., as well as its ITVX streaming platform. Not part of a deal would be production powerhouse ITV Studios, which produces such shows as Love Island, Britain’s Got Talent, and the Harlan Coben Netflix hit series Fool Me Once, among many others. ITV Studios has been the topic of much deal chatter in recent years, with the likes of Banijay and others being cited as potential buyers. However, ITV on Friday also emphasized that a transaction for its M&E division with Comcast’s Sky may not come together. “There can be no certainty as to the terms upon which any potential sale may be agreed or whether any transaction will take place,” its statement highlighted. “A further announcement will be made in due course if appropriate.”
