Sky finalizes a £1.6B acquisition of ITV’s television channels and streaming business and will operate under NBCUniversal after Sky’s split from Comcast.ITV shareholders will receive a £950M cash return as Sky pays £1.2B up front and an additional £200M contingent on advertising revenue within the next two years, while ITV Studios, which reported £2.1B in revenue, is excluded and buys Love Productions for £200M.Executives say the scale will help the combined group better compete with
YouTube and
TikTok, regulators plan a 12 to 18 month review, and MPs and producers are raising concerns about public service broadcasting, jobs and regional production.