Culture Secretary Lisa Nandy has stated she is “minded to intervene” in the proposed £1.6bn agreement for Sky to acquire ITV’s media and entertainment division. Nandy identified reasonable grounds to believe the transaction could impact free expression and the variety of Britain’s news landscape.
Deal details and background
The acquisition, initially announced in July, involves ITV’s broadcasting business, which encompasses its free-to-air TV channels and the ITVX streaming service. However, the deal specifically excludes ITV Studios, the production arm responsible for major programmes such as Love Island and I’m a Celebrity… Get Me Out of Here. Executives suggest the merger would allow Sky to reach millions more viewers and assist both companies in competing with global streaming giants like Netflix.
Company responses
- Sky stated it would “carefully consider” the culture secretary’s letter and “engage constructively” with the review. The company remains confident that the merger will “create a stronger British media.”
- ITV welcomed the government’s communication, maintaining that the deal would assist the business to “compete with global streaming platforms, benefiting viewers, advertisers and the UK creative industries.”
