TV (linear) Market: Miss Germany Revamps Contest, Expands TV Presence

Sky and ITV have agreed terms for a deal in which Sky will acquire ITV’s Media & Entertainment division for up to £1.6 billion (£1.2bn cash plus up to £0.2bn in performance-related earn‑out), while ITV will acquire Sky-owned Love Productions. Sky — described as Comcast-owned — said the transaction responds to competition from global streaming services and will create the UK’s largest commercial broadcaster, accounting for roughly 20% of in-home viewing. The agreement keeps ITV channels and the ITVX streaming service free-to-air and preserves distinct editorial voices for ITV News and Sky News. On completion Sky will sign a five-year, £2.1bn content supply deal with ITV Studios (the distribution arm excluded from the merger). The deal is subject to customary conditions and UK Competition and Markets Authority review and is expected to deliver ~£200m annual cost synergies by year three post-close.