Sky, the UK-based TV, internet and mobile phone provider owned by Comcast, has agreed to buy ITV’s media and entertainment arm for up to £1.6bn (€1.87bn) after months of talks in a deal aimed at creating a major competitor to global streaming giants.
The deal, which would significantly expand Sky's audience, comprises £1.2bn (€1.4bn) in cash, the transfer of Love Productions and up to £200mn (€233.8mn) in performance-related payments, according to the company's statement.
