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ITV in talks over sale of broadcasting arm to Sky for £1.6bn

ITV has revealed talks with Sky, the owner of Sky News, over the possible sale of its media and entertainment (M&E) division in a deal worth £1.6bn.

Sky News understands the approach centres on the potential creation of a UK-focused streaming giant. The division takes in ITV's current broadcast operations and channels, which are largely dependent on advertising revenue.

The talks do not include the company's studios arm, which makes shows such as I'm A Celebrity... Get Me Out Of Here! Money latest: Mortgage price war predicted "There can be no certainty as to the terms upon which any potential sale may be agreed or whether any transaction will take place.

Amir Nisi

Creative and experienced content writer with 6+ years of experience lazy to create unique content strategy for News5 to turn website visitors into customers.