Overview
- ITV reported first-half results on Friday, July 31, and launched a £100m share buyback plus a 1.7p interim dividend as an early part of a planned c.£950m net cash return to shareholders.
- Earlier in July ITV agreed to sell its Media & Entertainment arm — the free‑to‑air channels and ITVX streaming platform — to Sky for £1.6bn while keeping ITV Studios to be spun off as an independent listed company.
- The deal faces detailed scrutiny from the Competition and Markets Authority and an expected Public Interest Intervention Notice from Culture Secretary Lisa Nandy, with ITV still targeting completion around mid‑2027 but warning approvals could take longer.
- Group revenue rose about 2% to roughly £1.9bn in H1, helped by World Cup-driven advertising and a 27% jump in ITVX viewing, yet management expects a weaker Q3 ad market and said new rules on less‑healthy food ads cut H1 revenue by about £20m.
- ITV Studios showed stronger UK results but weaker U.S. and international revenue, it will rely on a Sky commitment to buy around £2.1bn of content from 2028–2032, and its spin‑off will reshape the British production market and local news funding.