![\"Studios](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/07\/142-ITV-logo-2.jpeg\"){kind=logo}
\t\tSky agreed a \u00a31.6bn takeover of ITV\u2019s Media and Entertainment business\t<\/p>\n\t\t\tFriday 31 July 2026 7:34 am\n\t\t\t<\/p>\n
\t\tSky agreed a \u00a31.6bn takeover of ITV\u2019s Media and Entertainment business\t<\/p>\n
ITV has announced a \u00a3100m share buyback as part of its commitment to return \u00a3950m to investors following its blockbuster \u00a31.6bn Sky deal.<\/p>\n
The broadcaster said the \u201cmilestone\u201d merger will \u201cunlock significant value for shareholders,\u201d as it posted a two per cent jump in revenue across the last six months.\u00a0<\/p>\n
Earlier this month, ITV agreed to sell its Media and Entertainment arm to Sky for \u00a31.6bn, offloading its free-to-air TV channels and the ITVX streaming platform.\u00a0<\/p>\n
\u201cThis transaction will unlock significant value for shareholders, with a net cash return of around \u00a3950 million, excluding any contingent consideration, and continued ownership of an attractive, growing global content business in ITV Studios,\u201d the firm said.<\/p>\n
ITV Studios, which produces shows like Love Island and The Chase, is \u201cwell positioned to deliver above-market profitable organic revenue growth,\u201d the board said on Friday.<\/p>\n
The business\u2019s profit will be weighted towards the end of the year, as ITV holds out hopes for revenue boosts from new seasons of The Gentlemen, Line of Duty and Vigil.<\/p>\n
ITVX, the group\u2019s streaming platform, delivered double-digit growth in the first half of the year, the group said, with advertising revenues buoyed by the World Cup.\u00a0<\/p>\n
Total advertising revenue jumped by eight per cent in the last quarter, as the Three Lions\u2019 progress at the tournament attracted \u201cstrong\u201d partnership demand and \u201csupercharged\u201d engagement on ITVX.<\/p>\n
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