Comcast-Owned Sky Agrees on Terms to Buy ITV’s Broadcast and Streaming Unit (Report)

By Leo Barraclough

Leo Barraclough

International Features Editor

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Sky, the Comcast-owned U.K. pay-TV operator, has agreed on terms to buy British broadcaster ITV’s media and entertainment division, which is its network arm. Reuters reported the development on Thursday, citing two people familiar with the negotiations.

As part of the £1.6 billion ($2.1 billion) deal, ITV Studios – the standalone production unit – would acquire “The Great British Bake Off” producer Love Productions. The transaction could be valued between £80 million and £120 million based on comparable deals, and an earn-out, the sources said. ITV Studios is not part of the Sky acquisition.

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