ITV has agreed the sale of its media and entertainment arm to Sky for up to £1.6 billion, both companies have announced.
The deal – subject to regulatory approval – follows months of talks and will combine the divisions with Sky to create a major competitor to the global streaming giants including Netflix and Amazon Prime Video.
The sale includes the broadcaster’s free-to-air channels and streaming service ITVX, but not its production arm, ITV Studios, which makes shows including I’m A Celebrity, and award-winning dramas like Mr Bates Vs The Post Office.
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