ITV in Talks Over Possible £1.6Bn Deal to Sell Broadcasting Arm to Sky

ITV has confirmed early stage talks over a possible £1.6 billion deal to sell its broadcasting arm to Sky in a move that would see a major shake-up of Britain’s television sector Alamy/PA

ITV has confirmed early stage talks over a possible £1.6 billion deal to sell its broadcasting arm to Sky in a move that would see a major shake-up of Britain’s television sector.

Shares in ITV jumped nearly a fifth higher at one stage on Friday after it announced it was in “preliminary discussions” with Sky, later paring back gains to stand around 14% up.