Adds details in par 2

LONDON, July 6 (Reuters) - British broadcaster ITV ITV.L said on Monday it had agreed to sell its media and entertainment division to Comcast's CMCSA.O Sky for £1.6 billion ($2.13 billion).

ITV will receive £1.2 billion in cash, an earn out of up to £200 million dependent on its advertising performance in the 2027 financial year and also "The Great British Bake Off" maker Love Productions, which will join the remaining ITV Studios business, the companies said.

($1 = £0.7497)