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ITV Studios
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ITV Studios

ITV's production and global distribution subsidiary, producing drama, entertainment, and factual content for international sale.

Last refreshed: 15 July 2026 · Appears in 1 active topic

Key Question

Why did ITV ring-fence its studios from the Sky deal, and what is it worth as a standalone?

Timeline for ITV Studios

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Common Questions
What does ITV Studios do?
ITV Studios produces drama, entertainment, factual, and format content for ITV's own channels and sells programmes and format licences to broadcasters and streamers internationally. It operates in the UK, US, Netherlands, Germany, France, Australia, and other markets.Source: entity background
Is ITV Studios included in the Sky takeover of ITV?
No. ITV Studios was explicitly excluded from the £1.6bn deal in which Sky agreed to acquire ITV's Media and Entertainment division. ITV retains the studios Arm. Love Productions, the maker of The Great British Bake Off, moves into ITV Studios as part of the deal structure.Source: entity background
What shows does ITV Studios make?
ITV Studios produces and distributes a wide catalogue including Love Island and, from 2026, The Great British Bake Off (through Love Productions, which joins the ITV Studios stable). It also sells format licences internationally for shows adapted by broadcasters in multiple markets.Source: entity background

Background

ITV Studios is the production and global distribution subsidiary of ITV, responsible for creating and commercialising drama, entertainment, factual, and format content for domestic and international markets. Operating studios and production entities in the UK, US, Netherlands, Germany, France, Australia, and several other countries, ITV Studios produces original programming for ITV's own channels and sells finished programmes and format licences to broadcasters and streaming platforms worldwide. It is one of Europe's largest independent-scale content producers, with a catalogue including format powerhouses such as Love Island.

In June 2026, ITV Studios' position within ITV's corporate structure became significant when Sky (owned by Comcast) agreed to acquire ITV's Media and Entertainment division for £1.6bn. ITV Studios was explicitly carved out of the transaction. As part of the deal structure, Love Productions, the maker of The Great British Bake Off, moves into ITV Studios' stable. The transaction remains subject to regulatory clearance from Ofcom and the Competition and Markets Authority (CMA).

The decision to retain ITV Studios reflects the different valuation logic of a global content business compared with a domestic channel and streaming operation. A studios Arm with international IP rights, production infrastructure in multiple markets, and an established format-sales pipeline has recurring revenue streams not dependent on UK advertising or subscriber acquisition. Retaining the studios leaves ITV with a route to content revenue and potential future deal optionality regardless of how the channel and streaming sale resolves.

More questions
Why did ITV keep ITV Studios and sell its channels to Sky?
ITV Studios generates international content revenue through IP rights, format sales, and production across multiple markets, a different economic model from the UK advertising-dependent channel business. Retaining the studios gives ITV a global content business independent of whatever happens to its linear channels and ITVX under Sky ownership.Source: entity background
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