Sky has agreed a landmark deal to acquire ITV's media and entertainment division for up to £1.6 billion, creating one of the biggest shake-ups in British television history.

The agreement, which follows months of negotiations that began in late 2025, will see Sky take ownership of ITV's terrestrial television channels and its streaming platform, ITVX, as the companies look to strengthen their position against global streaming giants such as Netflix and Disney+.

The deal does not include ITV Studios, the broadcaster's highly successful production business responsible for hit programmes including Love Island, I'm A Celebrity... Get Me Out of Here! and Mr Bates vs The Post Office. Instead, ITV Studios will become a standalone global content company listed on the London Stock Exchange, while continuing to supply programming to the newly combined Sky and ITV under a long-term agreement.

Sky and ITV said the merger is designed to create a stronger British media business capable of competing with international streaming services, while expanding investment in UK content and entertainment.

Despite the major takeover, viewers are not expected to notice any immediate changes. Sky has confirmed that popular ITV programmes will continue as normal, while ITV will remain a free-to-air broadcaster until at least 2034 under its existing public service broadcasting licence.

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