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Comcast in £1.6B Talks to Acquire ITV's Media & Entertainment Business
7 Nov
Summary
- Comcast in preliminary discussions to buy ITV's media and entertainment division for £1.6B
- ITV warns of "softening" British economy, seeks cost savings in M&E business
- Paramount+ releases first-look images for new darkly comic drama 'The Revenge Club'
According to reports, media giant Comcast is in preliminary discussions to acquire ITV's Media & Entertainment (M&E) business for £1.6 billion. The potential deal would see Comcast, which already owns pay-TV provider Sky, add ITV's main network, linear channels, and streaming platform ITVX to its growing portfolio.
ITV has confirmed the talks, stating that there is no certainty a transaction will take place. The move comes as ITV warns of a "softening" British economy and seeks to make additional cost savings within its M&E division. The TV advertising downturn has impacted major commercial broadcasters across Europe, leading many to explore new revenue streams.
Separately, Paramount+ has released the first-look images for its upcoming darkly comic drama series 'The Revenge Club'. The new show is set to premiere on the streaming platform in the coming months, offering viewers a unique and compelling viewing experience.
