ITV in "preliminary" discussions to sell its television business to Sky for £1.6bn

Transcript

00:00The US media company Comcast, which owns Sky, is in talks to buy ITV's broadcasting arm,

00:06which would include its TV channels and streaming service ITVX.

00:11The proposed deal is said to be worth £1.6 billion.

00:15We understand the sale wouldn't include ITV Studios,

00:18which is the production arm behind shows including I'm a Celebrity and Love Island,

00:22as well as some of its dramas.

00:24Now, news of this possible deal comes after ITV reported that it would temporarily cut £35 million from its budget.

00:33It also comes as the television industry faces tough competition from streaming services like Netflix and Disney+.

00:40Now, ITV has put out a statement this morning and confirmed that it is in early-stage talks

00:47over a possible sale of its media and entertainment broadcasting business to Sky,

00:52but it's said that there is no certainty on terms at this stage or if any deal will actually take place.