BRIEF-ITV To Sell Media And Entertainment Business To Sky For Up To £1.6 Billion

Comcast Corporation Class A

Comcast Corporation Class A

CMCSA

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July 6 (Reuters) - ITV PLC ITV.L:

  • 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

Source text: ID:nRSF0606La

Further company coverage: ITV.L


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