ITV has sold its media and entertainment division to Sky for up to £1.6 billion, a deal that secures the future of flagship soaps Coronation Street and Emmerdale. The agreement, announced on July 6, 2026, includes the ITVX streaming platform and all free-to-air channels, but excludes ITV's production arm, ITV Studios, which produces shows like Love Island and I'm a Celebrity... Get Me Out of Here!
What the Deal Means for Viewers
Good Morning Britain correspondent Richard Arnold confirmed on Monday that viewers should expect no immediate changes. “All the t's need to be crossed and the i's need to be dotted. But the important thing for you guys watching at home is it's business as normal. All your favourites – Corrie, Emmerdale, the faces you wake up to every morning on Good Morning Britain – nothing's going to change,” he said.
Sky Group also issued a statement reassuring fans: “Viewers will continue to enjoy the shows they know and love, such as Coronation Street, Emmerdale, Love Island, I'm a Celebrity... Get Me Out of Here!, This Morning, Loose Women, Lorraine and News at Ten – alongside major live sporting events.”
Strategic Rationale Behind the Acquisition
The deal is designed to create a UK-centred streaming powerhouse capable of competing with American platforms like Netflix and Amazon Prime Video. Dana Strong, Sky's group chief executive, said: “Bringing Sky and ITV Media and Entertainment together combines the very best of free-to-air television, pay TV and streaming. Ensuring viewers across the UK continue to enjoy outstanding British programming in a rapidly changing world. ITV will remain a public service broadcaster at the heart of British life, and we're excited about the future we can build together.”
Sky Group added: “The UK media market is undergoing a profound and rapid transformation, and as competition for audiences intensifies, scale matters more than ever in order to compete with global streaming giants and YouTube in the UK.”
Recent Soap Changes
Viewers have already seen significant changes to Coronation Street earlier this year, when ITV reduced the number of weekly episodes and shortened all episodes to 30 minutes. The acquisition by Sky is not expected to alter these formats, but the long-term future of the soaps appears secure under the new ownership.
Deal Details and Next Steps
The transaction is pending shareholder and regulatory clearance. ITV's production division remains independent, continuing to produce hit shows for multiple broadcasters. The sale price of up to £1.6 billion reflects the value of ITV's media and entertainment assets, including its extensive library and broadcasting infrastructure.
