Sky’s proposed acquisition of ITV is facing a review after UK Culture Secretary Lisa Nandy issued a Public Interest Intervention Notice. The move means the Competition and Markets Authority (CMA) and media regulator Ofcom will examine the deal.
The CMA will assess the transaction on jurisdictional and competition grounds, while Ofcom will consider its public-interest implications. Both bodies have until January 27 to report back. Nandy will then decide whether to direct the CMA to conduct a more detailed investigation.
Comcast-owned Sky announced earlier this year that it planned to buy ITV’s network and its ITVX streaming platform for $2.1 billion. ITV Studios, the broadcaster’s production arm, is not included in the deal and would be spun off.
Nandy said she had considered representations from Sky UK and ITV before deciding to issue the notice. She added that she did not consider a foreign state intervention notice necessary.
Sources: Variety.