Sky buys ITV broadcasting arm for $2.1 billion

Key facts

• Sky is acquiring ITV's broadcasting arm for £1.6 billion.
• The deal includes ITV's free-to-air channels and ITVX.
• ITV has cautioned employees about potential job security concerns.
• The combined entity aims to compete with global streaming services.

Sky has agreed to purchase ITV's broadcasting arm for £1.6 billion (approximately $2.1 billion), a move intended to bolster its position in the UK media landscape and create a formidable competitor against global streaming giants. The acquisition encompasses ITV's free-to-air channels and its streaming service, ITVX.