Comcast's (CMCSA) Sky deal to takeover ITV (ITV LN) is reportedly "weeks away", according ITV citing insiders

• Proposal would see ITV split in two, with the television channels and its ITVX streaming service sold to Sky, while ITV shareholders retain ownership of the studios business.

Comcast's Sky deal to acquire ITV is progressing and expected to conclude in the next few weeks, suggesting a strategic shift in the UK media landscape. This split entails ITV's channels and streaming service being absorbed by Sky while giving current ITV shareholders a stake in the studios, potentially enhancing competition in the streaming space. Watch for potential market reactions from both CMCSA and ITV, as well as implications for peers in the industry.