Sky to Acquire ITV's Broadcasting and Streaming Arm for £1.6bn
Sky has announced a long-awaited £1.6bn deal to buy ITV’s broadcasting and streaming arm, creating the UK’s largest commercial broadcaster. Sky, owned by US telecoms giant Comcast, will pay £1.2bn in cash initially for ITV’s media and entertainment business, which includes its free-to-air TV channels in the UK and the ITVX streaming platform. An additional potential £200m will be paid in the second half of 2028, contingent on 2027 advertising revenues.
Sky described the deal as an opportunity to create a “UK-focused national streaming champion” and hopes it will help compete for viewers against US streaming platforms such as Netflix, YouTube, and Amazon Prime Video.
Ocado Co-Founder Tim Steiner to Step Down as CEO in 2028
Ocado’s co-founder and chief executive, Tim Steiner, will stand down in 2028 after weeks of speculation over the online grocer’s leadership. Steiner, who co-founded Ocado in 2000 with two other former Goldman Sachs bankers, will remain as CEO until the start of the 2028 financial year (beginning December 2027), by which time the company expects to have a successor in place.
Steiner, 56, will then stay on for another year in a “founder role,” providing “strategic guidance, deep market expertise and support” to the board through to 2029, the company said.
Wegovy Weight-Loss Pill Now Available in UK Pharmacies
A once-a-day Wegovy weight-loss pill has gone on sale at high street and online pharmacies in the UK, but is not yet available on the NHS. Thousands of people began receiving their first deliveries of the pill, made by Danish drugmaker Novo Nordisk, on Monday. It contains the same active GLP-1 ingredient as the Wegovy jab, semaglutide, and is similarly effective, according to studies.
The pill was approved by the UK’s medicines regulator on 11 June and can be prescribed privately to overweight or obese people, subject to a medical consultation, alongside a healthy diet and exercise. Unlike the injected version, it is not yet available on an NHS prescription.
Review Urges Tougher AI Regulation by City Watchdog
Ministers have been urged to toughen the City regulator’s powers to protect consumers against the potential risks of AI, according to a landmark review. The Mills review by the Financial Conduct Authority (FCA) examined how AI will reshape financial services from 2030 onward and found that companies are already shifting from human-led activities towards AI-enabled services for everyday consumers.
The review found that while AI could support customers and make financial advice more accessible to lower-income households, it also increases the risk of fraud, cyber threats, and harm to consumers.
