Sky And ITV Deal Confirmed As Coronation Street And Emmerdale Get Major Reassurance

ITV has confirmed it has agreed to sell its Media and Entertainment business to Sky in a deal worth up to £1.6 billion, marking one of the biggest changes to British television in years.

The agreement will see Sky take control of ITV’s broadcast channels and ITVX, subject to regulatory approval. However, the most important detail for soap viewers is that ITV Studios is not being sold.

That means Coronation Street and Emmerdale, both produced by ITV Studios, remain part of the production business staying separate from the Sky takeover.

Even more importantly, Sky has committed to spending at least £2.1 billion on ITV Studios programming between 2028 and 2032. For viewers worried about the future of ITV’s biggest soaps, that long-term content agreement is a major reassurance rather than a warning sign.

At a time when traditional broadcasters are under pressure from streaming giants, the deal appears designed to strengthen British television, protect major ITV brands and give ITV Studios a significant cash injection through future commissions.

What Has Been Confirmed?

ITV has agreed to sell its Media and Entertainment division to Sky for up to £1.6 billion.

The deal includes ITV’s broadcast channels and streaming platform ITVX. That means Sky is set to take over the part of ITV responsible for channels such as ITV1, ITV2, ITV4 and ITVX, if regulators approve the transaction.

The sale is made up of £1.2 billion in cash, the transfer of Sky’s Love Productions business to ITV Studios at a value of £200 million, and up to £200 million more linked to ITV’s advertising performance in 2027.

Love Productions is the production company behind The Great British Bake Off and The Piano. Its move into ITV Studios would strengthen the production side of ITV at the same time as the broadcasting arm moves to Sky.

The deal is expected to complete in the second half of 2027, subject to regulatory approval.

Coronation Street And Emmerdale Are Not Being Sold Off

For soap viewers, the clearest point is this: Coronation Street and Emmerdale are not being sold off as separate programmes, and there is currently no indication that either soap is facing cancellation because of this deal.

Both shows are made by ITV Studios, which is not included in the Sky sale.

That distinction matters because the deal separates ITV’s broadcasting and streaming arm from its production arm. Sky is buying the channels and ITVX, but ITV Studios is expected to become a standalone production business.

Coronation Street and Emmerdale sit inside ITV Studios, alongside other major entertainment and drama brands. This means the soaps remain part of one of the strongest areas of the ITV business.

The confirmed £2.1 billion content agreement between Sky and ITV Studios also means Sky has made a long-term commitment to buying ITV Studios programming across five years. Rather than suggesting the soaps are at risk, the agreement points to continued commissioning and support.

Why The £2.1 Billion Commitment Matters

The £2.1 billion commitment is one of the most important parts of the deal.

Sky has agreed to spend at least £2.1 billion on ITV Studios content between 2028 and 2032. That creates a major pipeline of future commissions for the production arm behind Coronation Street and Emmerdale.

For programme makers, long-term security is vital. Soaps rely on large casts, permanent sets, production teams, writers, crew, story departments and continuing investment. A five-year supply agreement of this scale gives ITV Studios a strong commercial base as it moves forward as a separate business.

For viewers, it offers reassurance that ITV’s biggest continuing drama brands remain valuable. Coronation Street and Emmerdale are not small side projects. They are long-running, recognisable and commercially important parts of British television.

The deal also shows why Sky wants ITV’s channels in the first place. ITV’s biggest programmes bring regular audiences, familiar brands and major advertising value. Weakening Coronation Street or Emmerdale would not make commercial sense when those shows remain central to ITV’s identity.

A Positive Move For British Television

Although any major media deal will raise questions, this agreement can also be seen as a positive move for British television.

Sky and ITV have both been facing the same wider challenge: how to compete in a world dominated by Netflix, Amazon, Disney, YouTube and other global platforms. By bringing Sky’s scale together with ITV’s free-to-air reach and ITVX, the deal creates a stronger UK broadcasting force.

For viewers, the companies have said ITV’s channels and ITVX will remain free-to-air. That means audiences should still be able to watch ITV programming through the same familiar routes, including free television platforms.

The continued commitment to public service broadcasting is also important. ITV renewed its public service broadcasting licences in 2024 for a further 10 years, taking those obligations through to 2034. Sky has said it will continue to meet those obligations.

That means national and regional news, current affairs and major free-to-air programming remain part of the picture.

ITV Studios Becomes Even More Important

The deal also puts ITV Studios in a stronger position as a standalone content business.

ITV Studios already produces programmes for ITV, other broadcasters and streaming platforms around the world. By staying separate, it can continue operating as a major production company rather than being absorbed into Sky’s broadcasting business.

The addition of Love Productions would also strengthen ITV Studios further. Bringing in the company behind The Great British Bake Off gives ITV Studios another major production label and adds more value to its portfolio.

This is why the deal should not be viewed simply as ITV selling part of itself and stepping back. It is also a restructuring that leaves ITV Studios with major brands, a long-term supply agreement, a new production asset and a clearer identity as a global content business.

For Coronation Street and Emmerdale viewers, that matters because both soaps remain inside that stronger production operation.

What Happens Next?

The deal is not complete yet. Because of its size and importance, it will need to be reviewed by regulators. Ofcom and the Competition and Markets Authority are expected to look closely at the agreement, particularly around advertising, competition and media influence.

Sky’s ownership of ITV’s broadcasting arm would create a very powerful force in the UK television advertising market. Regulators may also examine Sky’s indirect stake in ITN, which makes ITV News, alongside Sky’s existing ownership of Sky News.

That scrutiny is expected with a deal of this scale. It does not mean the transaction will automatically be blocked, but it does mean the process will take time.

Completion is currently expected in the second half of 2027.

The Bottom Line For Soap Viewers

The confirmed Sky and ITV deal is a huge moment for British television, but for Coronation Street and Emmerdale viewers, the early signs are reassuring.

ITV Studios is not being sold to Sky. Coronation Street and Emmerdale remain part of ITV Studios. Sky has also committed to spending at least £2.1 billion on ITV Studios programming between 2028 and 2032.

That makes the deal look less like a threat to ITV’s soaps and more like a major vote of confidence in the value of British-made programming.

There will still be regulatory questions and the deal will not complete immediately. However, based on what has now been confirmed, Coronation Street and Emmerdale appear to remain central to ITV Studios’ future.

For viewers, the message is clear: the soaps are not being pushed aside. They remain among ITV’s most important brands, and the new agreement gives ITV Studios a major financial commitment behind its next chapter.

FAQs

1.Will Coronation Street be cancelled because of the Sky and ITV deal?

There is currently no indication that Coronation Street is being cancelled because of the deal. Coronation Street is made by ITV Studios, which is not being sold to Sky.

2.Is Emmerdale safe after the Sky and ITV deal?

Based on the confirmed details, Emmerdale remains part of ITV Studios and is covered by the wider long-term content agreement between Sky and ITV Studios.

3.What is Sky buying from ITV?

Sky is buying ITV’s Media and Entertainment division, which includes ITV’s broadcast channels and ITVX. The deal does not include ITV Studios.

4.How much is the Sky and ITV deal worth?

The deal is worth up to £1.6 billion. ITV will receive £1.2 billion in cash, Love Productions valued at £200 million, and up to £200 million more linked to advertising performance.

5.What is the £2.1 billion ITV Studios commitment?

Sky has committed to spending at least £2.1 billion on ITV Studios programming between 2028 and 2032. This is a long-term content supply agreement and is a major positive detail for ITV Studios.

6.Will ITV still be free-to-air?

The companies have said ITV’s channels and ITVX will remain free-to-air. Sky has also said it will continue to meet ITV’s public service broadcasting obligations.

7.When will the Sky and ITV deal complete?

The deal is expected to complete in the second half of 2027, subject to regulatory approval.

Sources: This article is based on confirmed reporting and company details from Reuters, The Guardian, Variety, The Times, Press Association reporting via the Evening Standard, ITV and Sky statements, and industry coverage of the confirmed transaction.