ITV confirms Sky TV deal talks ongoing as profits dip

The UK TV giant first confirmed talks in November but said on Thursday there was still ‘no certainty’ over an agreement. NewsBusinessITV confirms Sky TV deal talks ongoing as profits dipThe UK TV giant first confirmed talks in November but said on Thursday there was still ‘no certainty’ over an agreement.Henry Saker-Clark Thursday 05 March 2026 10:43 GMTBookmarkBookmark popoverRemoved from bookmarksClose popoveropen image in galleryITV has said it is continuing talks with Sky over a possible £1.6 billion deal (Alamy/PA)Your support helps us to tell the storyRead moreSupport NowFrom reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.Your support makes all the difference.Read moreITV is continuing discussions with Sky regarding a potential £1.6 billion acquisition of its broadcasting division, the British broadcaster has confirmed, even as it reported a dip in annual profits. The UK television giant initially confirmed these talks in November but reiterated on Thursday that there remains "no certainty" that a deal will ultimately materialise.This update coincided with ITV revealing a 5 per cent decline in adjusted pre-tax profits, falling to £448 million for the year ending 31 December, compared to the previous year.Despite the drop, the company, responsible for popular programmes such as The Masked Singer and I’m A Celebrity… Get Me Out Of Here!, described its performance as "stronger than expected" given a "challenging market backdrop." Late last year, ITV had cautioned that advertising revenues were negatively impacted by uncertainty surrounding the November budget.In its fresh update, ITV told shareholders that revenues were broadly flat at £4.1 billion for the year, with a 5 per cent dip in its broadcast arm offset by a 5 per cent rise in its ITV Studios production business.open image in galleryComcast bought Rupert Murdoch’s Sky for £30 billion in 2018 (PA)Chief executive Carolyn McCall told reporters the business had been boosted by strong growth from its ITVX streaming business, which it said had outperformed some rivals.“Our viewers clearly value what we have been doing digitally – ITVX is growing a lot,” she said.“We are way ahead of where our plan was on digital advertising.“Some of the streaming services are plateauing but the streaming services run by broadcasters are growing well.”The company was also continuing with efforts to reduce costs in order to support its finances.It said it expected £20 million more in non-content cost savings this year as a result.Ms McCall said: “Our results demonstrate the scale of our transformation as we continue to successfully execute our More Than TV strategy.“As part of the strategy, in 2022 we set intentionally ambitious targets and have been adapting as necessary in a rapidly evolving media and entertainment market.“These targets are helping us transform ITV – creating a much more entrepreneurial, ambitious culture.”More aboutITVSkyComcastCarolyn McCallITVXMost popularPopular videosBulletinRead next