ITV PLC LSE:ITV:

  • SALE OF ITV M&E BUSINESS TO SKY

  • TO SELL MEDIA AND ENTERTAINMENT BUSINESS TO SKY FOR UP TO £1.6 BILLION

  • £1.2 BILLION INITIAL CASH CONSIDERATION PAYABLE AT COMPLETION

  • PLANS CASH RETURN TO SHAREHOLDERS OF AROUND £950 MILLION (25P PER SHARE)

  • CONTINGENT CASH CONSIDERATION OF UP TO £200 MILLION PAYABLE IN H2 2028

  • DEAL EXPECTED TO COMPLETE IN H2 2027

  • SKY TO PAY £80 MILLION BREAK FEE IF REGULATORY CONDITIONS NOT SATISFIED

  • TO PAY £11.5 MILLION BREAK FEE IF LOVE PRODUCTIONS ACQUISITION NOT APPROVED