One week after unveiling plans to spin off its Sky division, Comcast agreed to acquire UK broadcaster ITV for up to $2.1 billion via its Sky unit. The purchase strengthens Sky’s content portfolio and digital streaming push in the UK market against global rivals.
Comcast’s Sky division has agreed to buy ITV in a transaction valued at up to $2.1 billion, with final price contingent on performance metrics. The deal follows a seven-day period after Comcast announced a planned spin-off of Sky, marking a strategic pivot back to consolidation.
Comcast aims to bolster Sky’s content offerings and accelerate its direct-to-consumer streaming strategy in the UK by integrating ITV’s portfolio of channels and on-demand rights. The move counters competitive pressure from Netflix, Disney+ and Amazon Prime by expanding Sky’s content library and ad sales opportunities.
The acquisition will be financed through a combination of existing cash reserves and incremental debt drawn under Comcast’s revolving credit facilities. Closing is expected by late 2026, subject to UK media regulator approval and customary antitrust clearances.
By adding ITV’s assets, Sky gains access to a wider linear and digital audience base, potentially driving subscriber growth and advertising revenue. The deal may prompt responses from European regulators and influence rival broadcasters’ M&A strategies.
