Sky is reportedly in advanced talks to acquire the media and entertainment division of British broadcaster ITV

Tom Harrington, a TV analyst from Enders Analysis, says ITV being free-to-air is also likely one of the main reasons for the potential deal. "ITV remains profitable and the reach that it commands as the major commercial broadcaster is probably the main reason why it would be attractive to Comcast/Sky".

ITV has confirmed discussions with Sky, the owner of Sky News, over the possible sale of its media and entertainment (M&E) division in a deal worth £1.6billion

In the FTSE 250, ITV shares 18% or 12.3p to 80p after it confirmed early stage talks over a possible sale of its broadcasting arm to Sky. A merger of food suppliers Greencore and Bakkavor is on track to complete early next year after the companies agreed remedies to competition concerns.

Sky is reportedly in talks with British company ITV to acquire its media and entertainment unit, with AJ Bell’s Head of Markets, Dan Coatsworth, expressing surprise on Friday that this arm has attracted a suitor,

ITV has confirmed it is in preliminary discussions with Sky, owned by US media giant Comcast, regarding a potential £1.6 billion sale of its media and entertainment division. Such a deal would reshape the UK broadcasting landscape, positioning Sky as the nation's largest commercial broadcaster.