ITV has revealed talks with Sky, the owner of Sky News, over the possible sale of its media and entertainment (M&E) division in a deal worth \u00a31.6bn.<\/p>\n
Sky News understands the approach centres on the potential creation of a UK-focused streaming giant.<\/p>\n
The division takes in ITV’s current broadcast operations and channels which are largely dependent on advertising.<\/p>\n
The talks do not include the company’s studios arm, which makes shows such as I’m A Celebrity… Get Me Out Of Here!<\/p>\n
Money latest: Mortgage price war predicted<\/a><\/p>\n “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 statement by ITV to the London Stock Exchange said.<\/p>\n “A further announcement will be made in due course if appropriate”, it concluded.<\/p>\n Sky declined to comment.<\/p>\n ITV released its statement after news of the discussions were first revealed by Bloomberg News.<\/p>\n Just hours earlier, the company’s latest financial results showed it was moving to save millions of pounds due to an advertising slowdown.<\/p>\n ITV reported delays to some programmes over the coming months to save costs as a result.<\/p>\n It predicted a 9% decline in ad revenues across 2025, with the most recent trends being blamed on advertisers pulling back on spending in anticipation of the chancellor’s budget later this month.<\/p>\n ITV has long been the subject of takeover speculation.<\/p>\n The latest came from the Reuters news agency earlier this year when it reported early-stage talks with Abu Dhabi-backed group RedBird IMI about a possible merger of their respective production businesses.<\/p>\n French media group Banijay was also reported to have held discussions about a possible offer for ITV’s studio business or a full takeover.<\/p>\n <\/p>\n <\/a><\/p>\n This breaking news story is being updated and more details will be published shortly.<\/p>\n Please refresh the page for the latest version.<\/p>\n You can receive breaking news alerts on a smartphone or tablet via the Sky News app<\/a>. You can also follow us on WhatsApp<\/a> and subscribe to our YouTube channel<\/a> to keep up with the latest news.<\/p>\n","protected":false},"excerpt":{"rendered":"ITV has revealed talks with Sky, the owner of Sky News, over the possible sale of its media…\n","protected":false},"author":2,"featured_media":122588,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[156,111,139,69,437],"class_list":{"0":"post-122587","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tv","8":"tag-entertainment","9":"tag-new-zealand","10":"tag-newzealand","11":"tag-nz","12":"tag-tv"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/122587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=122587"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/122587\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/122588"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=122587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=122587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=122587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}