Overview
- ITV said Thursday it remains in active discussions to sell its Media & Entertainment division to Sky.
- Reuters reports the talks are circling a valuation of about £1.6 billion with a potential earn-out of up to £200 million, which would transfer ITV’s channels and the ITVX streaming service to Sky.
- Quarter-one results showed a split performance with ITV Studios revenue up 4% and Media & Entertainment revenue down 2%, while total advertising revenue fell 1.5%.
- Digital momentum helped soften the decline in linear TV as digital ad revenue rose 14%, total digital revenue rose 12%, and ITVX logged a record start with streaming hours up 13%.
- ITV expects about 10% growth in second-quarter ad revenue driven by men’s World Cup demand and says it remains on track for full-year goals with more revenue landing in the second half.