Sky has announced a £10bn spending commitment in the UK over the next five years, covering content production and infrastructure, as it gears up to acquire ITV's broadcasting division. The pledge is seen as an effort to win regulatory approval for the deal, which would combine two of Britain's largest television companies.
Details of the spending pledge
The investment includes £6bn for programming, including original dramas, sports rights, and news, and £4bn for technology and infrastructure, such as broadband network upgrades and studio facilities. Sky said the spending would support thousands of jobs across the UK creative sector.
According to a Sky spokesperson, the commitment demonstrates the company's long-term confidence in the UK market. “This investment underlines our dedication to British creativity and innovation,” the spokesperson said.
Impact on the media landscape
The proposed takeover of ITV's broadcasting arm, which includes ITV's main channel and its digital services, would create a media giant with significant market power. Rivals and campaign groups have expressed concerns about reduced competition and potential job losses.
Media watchdog Ofcom is expected to scrutinise the deal closely, particularly its impact on plurality and local content. Sky's spending pledge may help alleviate some concerns, but critics argue that the combined entity could dominate advertising revenue and content acquisition.
The deal is valued at approximately £5bn and is expected to close by early 2027, subject to regulatory clearances. Sky is owned by Comcast, the US telecommunications group.
