ITV has confirmed that it is holding talks over a possible sale of its media and entertainment broadcasting business to Sky owner Comcast.
The proposed deal would have an enterprise value of £1.6 billion and involves the broadcaster’s TV channels and streaming service ITVX
Comcast owns a range of media assets including Universal Studios. It bought Sky from Rupert Murdoch for £30bn in 2018.
ITV said there is no certainty over the terms or outcome of a potential sale of the division. Any sale would not include ITV Studios, the production arm behind hit shows like I’m A Celebrity…Get Me Out of Here and the acclaimed drama Mr Bates vs The Post Office.
The company this morning said it notes recent press speculation and “confirms that it is in preliminary discussions regarding a possible sale of its M&E business to Sky for an enterprise value of £1.6bn.
“There can be no certainty as to the terms upon which any potential sale may be agreed or whether any transaction will take place. A further announcement will be made in due course if appropriate.”
The company said it expected advertising revenues, which still account for most of its income, to fall by 9% in the key fourth-quarter advertising period in the run-up to Christmas.
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