UK government to review Sky's £1.6bn takeover of ITV media arm
Summarised from 2 outlets · Updated 4 Nov, 15:42 · Archive
UK Culture Secretary Lisa Nandy will intervene in Sky's planned £1.6 billion takeover of ITV's media and entertainment arm.
UK Culture Secretary Lisa Nandy has announced she will intervene in the planned £1.6 billion takeover of ITV's media and entertainment arm by Sky, the UK-based TV, internet and mobile phone provider owned by Comcast. Nandy said she will introduce legislation for a new public interest consideration for streamers, stating that such consideration should 'apply to on-demand programs as well as broadcasting in line with modern viewing habits'.
The deal, announced in June, includes ITV's terrestrial television channels and streaming service. One of Sky's main motivations is to create a major competitor to global streaming companies. ITV's production arm, ITV Studios, known for shows including 'I'm A Celebrity', will remain independent.
Nandy has asked the Competition and Markets Authority and industry regulator Ofcom to review the takeover and report back on competition and media public interest considerations respectively by 27 January. She may then decide to refer the deal to the CMA for further investigation. If approved, the combined Sky-ITV entity is set to become part of NBCUniversal following Sky's completion of its split from Comcast.
How it is being reported
- UK government announces public interest investigation into Sky deal to takeover ITV's media armU.K. Culture Secretary Lisa Nandy says she will intervene in the planned 1.6 billion-pound or $2.2 billion deal between Sky and ITV’s media and entertainment arm.Clickorlando · 4 Nov, 14:54
- UK government announces public interest investigation into Sky deal to takeover ITV's media armU.K. Culture Secretary Lisa Nandy says she will intervene in the planned 1.6 billion-pound or $2.2 billion deal between Sky and ITV’s media and entertainment arm.News4Jax · 4 Nov, 14:54
In this story: Lisa Nandy · Sky · ITV · Comcast · Competition and Markets Authority · Ofcom · NBCUniversal · United Kingdom
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