Sky is to pay £1.6bn for ITV's broadcast and streaming division in what has been called a "defining moment for British media" after talks of the sale were first announced last November07:49, 06 Jul 2026Updated 08:11, 06 Jul 2026Sky is to pay £1.6bn for ITV's broadcast and streaming division in what has been called a "defining moment for British media." The move, subject to shareholder and regulatory approval, will create what will become the biggest commercial broadcaster in the UK.‌With the aim of creating a UK-based streaming platform amid the rise of giants like Amazon Prime, Disney+ and Netflix, the deal includes ITV's catch up service and free-to-air channels, but not ITV Studios, which is behind in-house productions like long-running soaps Coronation Street and Emmerdale.‌Dana Strong (CBE), Sky Group CEO, said: "This is a defining moment for British media and an opportunity to build a stronger future for two of the UK's most loved and trusted brands. We have huge respect for the transformation the ITV team has delivered, particularly its successful move into streaming through ITVX, which has brought fantastic British content to millions of viewers across the UK.‌"Bringing Sky and ITV Media & Entertainment together combines the very best of free-to-air television, pay TV and streaming, ensuring viewers across the UK continue to enjoy outstanding British programming in a rapidly changing world."ITV will remain a public service broadcaster at the heart of British life, and we’re excited about the future we can build together.”‌But Sky were keen to remind viewers that many of its most popular programmes will see no change in the near future.In a statement, Sky said: "Viewers will continue to enjoy the shows they know and love, such as Coronation Street, Emmerdale, Love Island, I'm a Celebrity... Get Me Out of Here!, This Morning, Loose Women, Lorraine and News at Ten – alongside major live sporting events."The deal was first touted last November, when the broadcaster announced it was in early over a possible sale of its media and entertainment broadcasting business to Sky in a deal that would value the division at £1.6 billion.‌It came just months after ITV, which was launched in 1955 and is the UK's oldest commercial television network, announced huge cuts to its biggest daytime shows including Good Morning Britain, Lorraine, Loose Women and This Morning, some of which have now had a reduction in airtime and seen several job cuts.Carolyn McCall (DBE), Chief Executive Officer, ITV plc, said: "ITV has successfully evolved in a rapidly changing media landscape - launching, and scaling, ITVX and developing ITV Studios into a major force in the global content market.‌"This transaction builds on that momentum to deliver clear, tangible value for shareholders.“At the same time, through the commitments made by Sky, the combined ITV M&E / Sky business will continue to deliver everything about ITV that our viewers and advertisers love and value and our people are hugely proud of - making programmes that reflect and shape society, bringing people together for shared experiences and having the quality, diversity and plurality that are the hallmarks of our contribution to the UK’s creative industries. In addition, all of ITV’s PSB commitments, including regional and national news, are safeguarded under the terms of the Channel 3 Licences until 2034, which Sky is acquiring as part of the Transaction.“I am also confident that Sky will be a strong and responsible custodian of ITV M&E, building on its heritage while investing in its future and safeguarding the qualities that make ITV so valued by viewers, advertisers and the UK's creative industries.”Article continues belowTowards the end of last year, confirmation of the talks came after it was reported that Comcast, Sky's parent company, were set to buy ITV.But at the time, it was made clear that a wasn’t certain, telling the City : "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."Join The Mirror’s WhatsApp Community or follow us on Google News, Flipboard, Apple News, TikTok, Snapchat, Instagram, Twitter, Facebook, YouTube and Threads - or visit The Mirror homepage.