ITV confirms it’s in talks with Sky to promote its TV channels and ITVX streaming service for £1.6billion in transfer that may rock British broadcasting

ITV is in talks with Sky over a possible sale of its media and entertainment broadcasting business for £1.6 billion.

The British broadcaster confirmed that it was engaged in preliminary discussions with Sky’s US owner Comcast following reports of the possible sale earlier this week.

In a statement to the City this morning, ITV said: ‘ITV plc notes the recent press speculation and confirms that it is in preliminary discussions regarding a possible sale of its M&E business to Sky for an enterprise value of £1.6bn.  

‘There can be no certainty as to the terms upon which any potential sale may be agreed or whether any transaction will take place. 

‘A further announcement will be made in due course if appropriate.’

ITV has confirmed it is in early stage talks over a possible sale of its media and entertainment broadcasting business to Sky