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ITV PLC (ITVPF) delivered a solid H1 performance with both divisions achieving revenue growth, including a 2% increase in ITV Studios revenue and a 3% rise in total advertising revenue. The sale of the M&A business to Sky is a transformative deal that will unlock significant shareholder value, including a 950 million net cash return and a 100 million share buyback. ITVX continues to show strong momentum with viewing up 27% and digital revenues growing 13%, reaching over 20 million monthly active users in June.
ITV (LON:ITV) said its planned sale of its Media & Entertainment business to Sky represents a “transformative moment” for the group, unlocking value for shareholders while leaving ITV Studios as a standalone global content production business. On an investor call following the announcement, Chi
Comcast-owned Sky is nearing a £1.6 billion deal for ITV’s broadcast and streaming arm, setting up a major UK media shake-up as local TV players try to bulk up against Netflix, YouTube and Disney.
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