Member Info for BigEgo

“Comcast, the owner of Sky, is in talks to buy ITV’s broadcasting business for about £2 billion. The US company, which also owns Universal Studios, bought Sky for £30 billion in 2018. The purchase of ITV’s flagship broadcasting arm, including its TV channels and streaming service ITVX, would upend the British television landscape.

Insiders hope it could encourage Channel 4 to attempt a merger with the BBC — speculation that has previously been denied.”

Why are The Times rounding the previously RNS’d £1.6bn to £2bn? Big if true! :)

This article, and the conversations going on seem very pro Sky/ITV…

“Sources in the Department for Culture, Media and Sport (DCMS) have indicated that ministers would stop regulators from trying to block any future deal between the BBC and Channel 4.”

They can’t block Sky/ITV one week and approve BBC/CH4 the next. Rather, both deals would help the UK media industry compete with the US streamers - and it seems many others now share this view…

“BBC and Channel 4 could merge to combat YouTube, minister says”

Https://web.archive.org/web/20260203184345/https://www.thetimes.com/uk/media/article/bbc-channel-4-merge-xgmzs5zg7?gaa_at=eafs&gaa_n=AWEtsqcLNpkwyT1fGbeDaPzB1zWb9bQTm7lCiL1TFqD6mX9u_tib-02fEwBC03Vu_lk%3D&gaa_ts=6982448a&gaa_sig=VP3wZ8pUrZiTTqCfOhM5ru55IeLC8I2LnrpTtWn4xszwNWz2nqNutLTbqN_FBRAKmSp5Xdrhp9GI07asKHmDSQ%3D%3D

Vor Capital is ITVs longest standing short position, sitting there unchanged since reaching 0.7% in October 2024.

On Friday they finally started to trim their short, just by a little, but direction is clear. :)

Https://www.shorttracker.co.uk/manager/vor-capital-llp/

Https://www.vorcapital.co.uk/

Barclays raises ITV price target to 84 (75) pence - 'equal weight'

https://www.lse.co.uk/news/london-broker-ratings-jefferies-cuts-bae-citi-raises-anglo-american-ibjjortjpd0y60s.html

Alboum - same here, I also can’t read these previous posts thanks to filtering, but the “Breakout” thread seems oddly quiet today for some reason ;)

Filter wisely all!

“YouTube’s cease and desist letter to Barb (tracking) has caused many an eyebrow to be raised across the TV industry. It does seem odd that YouTube has spent so much effort trying to convince advertisers that it is TV and so gain the benefits of that reputation, but the moment there’s some TV-like scrutiny, it goes legal to avoid it. If they want to be treated like TV, they need to be transparent.”

Weekend long read!

Interesting article, a few ITV mentions and some very interesting charts - especially figure 16 - imagine the ITV & SKY %s combined… Also note the ITV & SKY reaches on the YouTube content owners chart…

“Measurement across TV and tech platforms

And why this really matters to TV producers and the wider industry.

Jen Topping, JAN 30, 2026”

Https://businessoftv.substack.com/p/measurement-across-tv-and-tech-platforms

One media deal completes - almost 100 production companies to merge.

Https://variety.com/2026/film/global/mediawan-peter-chernin-north-road-company-1236645540/

Whilst we all wait for more Sky news … The most important thing about the 7th November RNS was this bit at the top “THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION”

Therefore if talks ended ITV would be obliged to issue a further RNS as this fact would be a continuation/variation of that prior inside information.

It’s a classic - no news is good news.

(Talks can’t have ended without us being told, hence intuitively talks are still progressing).

Https://www.itvplc.com/investors/regulatory-news?news=response-to-recent-speculation%E2%80%932004403

“YouTube faces industry backlash after pulling out of UK TV audience measurement system“

Https://www.storyboard18.com/amp/digital/youtube-faces-industry-backlash-after-pulling-out-of-uk-tv-audience-measurement-system-88441.htm

For anyone thinking of selling, if ITV breaks out tomorrow you’ll forget weeks of boredom in minutes but if you bail early you’ll remember it for years!

And regarding the potential Sky deal and what it might do to the share price immediately - don’t forget that “getting £1.6b” doesn’t simply “add £1.6bn” to the market cap / share price in itself - as it means reciprocally we are also losing (deducting from the balance sheet) an existing asset (and income stream), ITV M&E, for a cash amount (with some debt adjustment too).

So in theory you could argue the share price doesn’t have to move - specifically for just that sale - if it was priced optimally. However yes of course it will move - but mainly for other reasons such as prospects for the simplified Studios business and the higher market cap a better EV ratio (legacy broadcast about 5*rev, studios peers about 12-14*rev) to revenue it commands, plus enhanced takeover attractiveness, and maybe some hope about a special dividend - which may not appear if they want to invest in more studio assets.

In summary - “losing” the M&E cash cow is a negative - hence it should only sell for a good price - ITV should still walk away if Skys offer is too low…

Is it worth £1bn? clearly yes given revenue

Is it worth £2bn? probably not given broadcast decline

So the right price is somewhere in between, and that’s what is being hammered out right now.

£1.6bn? Maybe a teeny bit more :)

“Sky Media launches AI toolkit to help SMEs advertise on TV … following similar initiatives by Channel 4 and ITV.”

Https://www.marketingweek.com/sky-media-ai-smes-advertise-tv/

Good spot, they might say something, maybe not :)

https://www.cmcsa.com/events/event-details/q4-2025-comcast-corporation-earnings-conference-call

There’s been quite a solid base forming around low 80s since the November Sky RNS.

Http://uk.advfn.com/p.php?pid=staticchart&s=ITV&p=3&t=15

We are creeping ever closer to the approx 84p resistance level, and there’s not much further resistance above that - thanks to historic price action (looking back at the “ITVX investment announcement fall”).

I think it’s only going to take one catalyst - likely an RNS update re Sky to boot this over 84p - and then its a different ball game!

26 Jan 2026 | Ellie Hammonds

The Year Ahead 2026: The broadcasters’ strategy to take on the platforms

Https://uk.themedialeader.com/the-year-ahead-2026-the-broadcasters-strategy-to-take-on-the-platforms/

Hmm another high of the day finish.

Same as yesterday.

And loads of other days recently.

This is a good sign.

Great weekend all!

41 days to go until the ITV 2025 results. I predict it’s been a very good year! :)

05 March 2026 - ITV Plc 2025 Full Year Results Presentation

“For the third consecutive year, ITV1, ITVX, STV, and STV Player will be the exclusive UK broadcaster of the prestigious Oscars®.”

Https://www.itv.com/presscentre/media-releases/itv-and-itvx-confirm-coverage-98th-oscarsr

Slide 4 makes it clear what Sky want to own. What a chart!