Member Info for BigEgo

Did anyone notice the subtle change in commentary?

“There can be no certainty” has been removed. Deliberate or mistake?

5th March 2026 (ITV plc Full Year Results 2025)

“Following our announcement in November 2025, we remain in discussions with Sky regarding a possible sale of the M&E business. There can be no certainty as to whether a transaction will take place and an update will be made in due course.”

14th May 2026 (ITV plc Q1 Trading Update)

“Following our announcement in November 2025, we remain in active discussions with Sky regarding a possible sale of the M&E business. We will update the market in due course.”

Same “we remain in active discussions with Sky”

Outlook: On track for the full year with no change to guidance

Https://www.itvplc.com/investors/regulatory-news?news=itv-plc-q1-trading-update%E2%80%932056810

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Back up the truck guys. X

Https://www.reuters.com/world/comcasts-sky-advances-talks-acquire-itv-unit-with-performance-based-payout-2026-05-13/

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Independent Television News (ITN) is owned by a consortium of shareholders, with the largest stake held by ITV plc (40%).

The remaining ownership is divided equally among three other major media and professional information companies:

Daily Mail and General Trust (DMGT): 20%

Thomson Reuters: 20%

Informa: 20%

ITN operates as an independent production company, although ITV's 40% stake makes it the primary shareholder. It provides news content for ITV1, Channel 4, and Channel 5, while producing various documentaries, sports, and commercial content for other broadcasters and platforms.

Interesting timing - ITN CEO departs abruptly.

ITN is owned 40% by ITV and is in the spotlight for disruption if Sky News and ITV assets come together…

“Rachel Corp steps down as ITN CEO with immediate effect”

Https://pressgazette.co.uk/the-wire/media-jobs-uk-news/itn-ceo-rachel-corp-ian-rumsey/

The +13% is likely almost entirely the FIFA World Cup effect — if the trading update confirms a similar number on Thursday it’s a positive signal for full-year FCF and therefore dividend sustainability…

ITV Analyst (names below) consensus for the 14 May update is online here (PDF link on right):

Q2 2026 TAR consensus +13%

Https://www.itvplc.com/investors/results-centre/reports-and-results-archive/2026

Https://www.itvplc.com/investors/analysts

The Drum article really is interesting with regards to "Bruce Henderson’s Rule of Three" (a competitive market never has more than three significant competitors).

We could map this to a future UK media landscape quite well and ponder that:

1 = Global Players operating in UK (Google and Meta)

2 = Sky+ITV

3 = BBC+CH4

It's the only logical outcome!

(The rule of three market players analysis was updated 2009, examining 10,000 companies across 35 years, and confirmed the original hypothesis.)

Https://www.thedrum.com/opinion/mark-ritson-unlikely-teammates-itv-and-sky-show-where-tv-is-heading

… and sticking with consolidation …

“Sony President Wayne Garvie Says BBC & Channel 4 Must Join Forces”

Https://deadline.com/2026/05/sony-president-wayne-garvie-bbc-join-forces-1236884109/

I posted this excellent article back in March.

Here it is again for anyone that missed it.

It’s worth reading again now we have reached the 6 month mark… and are potentially much closer to what must surely be inevitable consolidation…

“The two UK broadcasters once fought for audiences. Now they are sharing them, a sign that television is entering an era where consolidation is no longer optional.”

Https://www.thedrum.com/opinion/mark-ritson-unlikely-teammates-itv-and-sky-show-where-tv-is-heading

Yesterday was the 6 month anniversary of the 7 Nov Sky RNS…!

In many UK M&A processes, if no progress is visible within six months, investors start to grow restless, but for a strategic deal of this size, 6–12 months is the common window between the first "Response to Speculation" and a "Firm Intention to Offer."

ITV did provide a brief update during their Full Year Results on March 5, 2026, stating: "Following our announcement in November 2025, we remain in discussions with Sky regarding a possible sale of the M&E business. There can be no certainty as to whether a transaction will take place." 

The lack of a new RNS since March could be seen as positive - meaning the talks have not ended, but they haven't reached the signing stage either.

The next likely window for an official update (barring a sudden leak or deal signing) could well be ITV’s Q1 Trading Update on 14th…

80p close yesterday

81p close today

I do like round numbers :)

14 May 2026 ITV Plc Trading Update Q1 2026

21 May 2026 ITV Plc Dividend Paid 3.3p

Have a great long weekend all.

Https://next.io/news/casino/itv-win-shuts-down-richmond-atlantic/

“ITV PLC Share Price Rises as Sky Deal Watch Puts Broadcaster Back in Focus”

Https://www.bez-kabli.pl/itv-plc-share-price-rises-as-sky-deal-watch-puts-broadcaster-back-in-focus/

“EU broadcasters say Digital Fairness Act should target Big Tech, not them”

(Canal+, RTL, Mediaset, ITV, Paramount+, NBCUniversal, Walt Disney, Warner Bros Discovery, Sky and TF1 Groupe)

Https://www.reuters.com/sustainability/boards-policy-regulation/eu-broadcasters-say-digital-fairness-act-should-target-big-tech-not-them-2026-04-27/

Nothing new found to share about ITV.

All I can offer this weekend is a reminder that Carolyn McCall is 65 in less than 6 months (13 Sep). She’ll have been 8.5 years into the CEO role by then.

Both of these numbers are at the upper end vs FTSE averages.

ITV are likely succession planning already, and I expect McCall herself will want to end on a high…

A change of CEO after so long is likely to trigger some kind of market reaction - depending on things like: how well perceived the replacement is, and any strategy impact.

Watch ITVX adverts from the comfort of your BMW OR Mini!

Https://www.itv.com/presscentre/media-releases/itv-brings-itvx-car-entertainment-through-partnership-xperi

Yes.

When considering ‘what next’ for markets my first go to is this S&P 500 chart - as US ‘main market’ direction usually leads the world, thanks in part to so many global trackers, ETFs etc relying on it and effectively it is a huge % of most pension funds.

Right now I find it extremely odd that the S&P 500 is sitting at an all time high - with painfully high RSI and Stochastics right at the upper levels. Anyone else think the charts below are not reflective of current state?

It looks like a market experiencing perfect economic conditions. Not one in a country embroiled in a difficult and embarrassing war they need to get out of asap - that is threatening the world economy and inflation.

In summary - ‘what next’ to me looks like a sizeable pullback in the US - at least to give these indicators a chance to drop to average levels. This will need a trigger. Could that be failure in peace talks and a return to conflict as markets finally give up on posturing and fake deal news?

This has nothing and everything to do with ITV. A large US equity fall, will become a large UK equity fall (although conversely the FTSE 100 is propped up by oil majors) and inevitably ITV would be part of any pullback too.

This tells me to risk off and take some profits, and ensure I have some cash to redeploy on weakness…

Https://sl1nk.com/xz69hpa

Holy crap, BBC quoting Trump that the US has just “blown a hole in the engine room (of an Iran container ship)” and US Marines have boarded.

Oil up 6.2%

FTSE and ITV only going one way in the morning unless something amazing changes in the next 10 hours.