It has been confirmed that a £1.6 billion deal has been struck for the takeover of ITV, with Sky set to control both the media and entertainment arm of the company in an agreement that will have a significant effect on the TV landscape.
The major development has reportedly been agreed with a view to making an impact in the streaming market too, with US services such as Netflix and Prime Video now dominating the industry.
Sky is set to assume control of both ITVX and the broadcaster's free-to-air channels, though ITV's studio operations are not included. As per Sky's executive chief, Dana Strong, the integrated streaming platform will have 16 million viewers per month (via Sky News).
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Naturally, viewers will be wondering what this means for popular ITV shows such as Love Island and I'm a Celebrity… Get Me Out of Here!, but it's good news as those series will remain free-to-air.
These hit titles, along with soaps Coronation Street and Emmerdale, are made by ITV Studios, which is the production arm of ITV. As the studio isn't included in the deal, it is expected that it will become a company in its own right (ITV Studios PLC).
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ITV Studios also makes other shows such as police procedural Line of Duty and period comedy-drama Rivals, which air on the BBC and Disney+, respectively. The deal will see guarantees being made to the studio, with sizeable funding between 2028 and 2032.
This is very much a stance for the short-to-medium term, as ITV is bound by the public service broadcasting licence until at least 2034. What could happen, however, is that more content premieres on streaming as opposed to live TV.
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Regarding the deal, Strong said that ITV would "remain a public service broadcaster at the heart of British life", and also called it an "opportunity to build a stronger future" in what could be a "defining moment for British media".
Carolyn McCall, ITV CEO, added: "I am confident that Sky will be a strong and responsible custodian of ITV, 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."
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Reporter, Digital Spy George is a freelance writer who specialises in Movies and TV. After graduating with a degree in Film Studies and Journalism from De Montfort University, in which he analysed the early works of Richard Linklater for his dissertation, he wrote for several websites for GRV Media. His film tastes vary from blockbusters like Mission: Impossible and John Wick to international directors such as Paolo Sorrentino and Hirokazu Kore-eda, and has attended both the London and Berlin film festivals.
