Comcast's Sky to Acquire ITV in $2.1 Billion Deal, Boosting Competition with Streaming Giants

Comcast-owned Sky announced a deal to purchase British broadcaster ITV. The transaction is valued at about $2.1 billion. Combining Sky and ITV would bring together two of the United Kingdom's largest media companies. The acquisition is intended to broaden Sky's content portfolio. It aims to give Sky a stronger foothold in the UK market. The move is designed to help Sky compete more effectively with global streaming services. Industry observers see the deal as a response to the growing dominance of platforms such as Netflix and Disney+. The transaction is expected to close pending regulatory approval.