Sky makes £2bn spending pledge as it prepares takeover of ITV broadcasting arm

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Sky is preparing to spend £2 billion on ITV’s studios over five years as part of a planned £1.6 billion takeover of ITV's broadcasting arm. The acquisition aims to secure the future of popular UK TV programs such as Coronation Street and Love Island.

Deal could be announced in July and vow will safeguard future of shows such as Coronation Street and Love Island Sky has committed to spending £2bn on ITV’s studios business over the next five years as it hammers out a takeover of its broadcasting arm, a move that will safeguard the future of popular programmes such as Coronation Street and Love Island. Sky, owned by the US telecoms company Comcast, has been in talks for months to buy ITV’s media and entertainment operations, which include its free-to-air TV channels in the UK and the ITVX streaming platform. The £1.6bn takeover deal could be announced in early July, the Sunday Times reported. Continue reading...