ITV in talks to sell media and entertainment arm to Sky for £1.6B

Core Viewpoint - ITV is in advanced discussions with Sky regarding a potential sale of its media and entertainment division for £1.6 billion ($2.15 billion) [1] Group 1: Company Developments - ITV is exploring a significant divestiture of its media and entertainment division, indicating a strategic shift in its business focus [1] - The potential sale to Sky, owned by Comcast, highlights ITV's efforts to streamline operations and possibly enhance shareholder value [1] Group 2: Financial Implications - The proposed sale price of £1.6 billion ($2.15 billion) reflects ITV's valuation of its media and entertainment assets in the current market [1] - This transaction could impact ITV's financial position and future investment strategies, depending on the outcome of the discussions [1]