Comcast is ready to grow its media empire in the United Kingdom by acquiring British public service broadcaster ITV, according to a report published this week.
The report, from Reuters, said Comcast’s satellite and streaming company Sky Group will spend $2.1 billion to purchase ITV’s broadcast network and related streaming platform ITVX, which has nearly 1 million paid subscribers.
Comcast, Sky and ITV have not officially commented on the plan, which is expected to be announced in the next two weeks.
ITV Studios is not part of the transaction, and will remain a separate, independent entity once Sky acquires the broader ITV business. Comcast already has business arrangements with ITV Studios: Shows like “Love Island” and “The Voice” stream on NBC’s Peacock.
The deal is subject to regulatory approval in the country. It requires sign-offs from the U.K.’s Competition and Markets Authority and from Ofcom, the latter of which operates similar to the Federal Communications Commission (FCC) in the United States. It wasn’t clear if regulators were scrutinizing the deal in a favorable light.
If the deal is approved, it will mark the second time a foreign entity has acquired a British public service broadcaster. Channel 5, which competes with ITV for viewers and advertising dollars, is owned by Paramount Global.
