The Get-Big-or-Die Era of European TV Has Arrived

There’s a version of this story European broadcasters have been trying to sell regulators for close to two decades: let us merge, or watch us disappear. On July 6, Sky and ITV finally got the chance to test whether, this time, anyone believes them.

Comcast-owned Sky confirmed Monday it has agreed a £1.6 billion ($2.1 billion) deal to acquire ITV’s broadcasting and streaming operations, bringing together Britain’s largest pay-TV operator with its largest commercial free-to-air broadcaster. Sky CEO Dana Strong called it “a defining moment for British media.” ITV chief executive Carolyn McCall framed it as the creation of “a UK champion with the scale and resources to better compete with global streaming platforms.”

The deal excludes ITV Studios — the production arm behind Coronation Street and Love Island — which will be separated as a standalone, London-listed content business. ITV and ITV Studios will remain, for now, closely entwined. Sky has committed to at least £2.1 billion ($2.8 billion) in programming spend with ITV Studios between 2028 and 2032.

‘Love Island USA’ season eight.

Ben Symons/Peacock