With a government review looming over Sky’s proposed £1.6 billion purchase of ITV’s media and entertainment business, ITV plans £30 million in cost cuts by year-end, The Independent reported Nov. 11.
ITV Chief Executive Dame Carolyn McCall said the company is taking temporary action in the division to align spending with advertiser demand. About £25 million of the savings would come from content, including postponing some program airings until next year. A further £5 million is expected from discretionary spending outside content. ITV said the plan is not expected to affect jobs, according to the report.
Total advertising revenue dropped 8% in the three months ended Sept. 30. ITV said revenue could fall by up to 10% in the fourth quarter and forecast a full-year decline of 2% to 3%. McCall linked the weaker market to macroeconomic uncertainty, more digital advertising on global streaming platforms and restrictions on ads for less healthy foods that took effect Oct. 1, 2025. She said demand had weakened in the second half and described the advertising outlook as muted.
In July, ITV agreed to sell its media and entertainment operations to Sky for £1.6 billion after months of discussions. The deal would transfer ITV’s broadcast channels and ITVX to Sky but keep production arm ITV Studios outside the sale. ITV said ITV Studios would provide programming to the combined Sky-ITV operation under a long-term agreement.
U.K. Culture Secretary Lisa Nandy set Jan. 27 as the deadline for the Competition and Markets Authority (CMA) and Ofcom to report on competition and media public-interest issues, respectively, The Independent reported. The date is the next scheduled milestone in the review. EconoTimes previously covered the government’s review of the Sky-ITV media deal.
