Lisa Nandy ‘minded to intervene’ in Sky’s £1.6bn purchase of ITV

Culture Secretary Lisa Nandy has expressed her willingness to intervene in Sky's £1.6bn acquisition of ITV, a move that could lead to a closer examination of the deal. This proposed merger would result in the creation of the UK's largest commercial broadcaster. Sky, a subsidiary of US conglomerate Comcast, plans to leverage the purchase to establish a "UK-focused national streaming champion" capable of competing against giants like Netflix, YouTube, and Amazon Prime Video.

Nandy's decision is based on several "public interest considerations," including the importance of free speech in news media, a diverse range of viewpoints, and control of media enterprises by a wide array of individuals. Additionally, she must ensure the continued availability of high-quality, appealing programming across various formats.

This intervention is a formal part of the takeover process, and the affected companies are granted five days to respond. Should Nandy decide to meddle with the proceedings, it would trigger formal investigations by Ofcom and the Competition and Markets Authority. The TV industry is currently facing intense competition from streaming services, with audiences gravitating towards digital platforms.

While some in the industry expect the deal to proceed, Nandy has previously threatened to intervene in a similar transaction involving Channel 5, owned by Paramount. However, she ultimately allowed the deal to go through, subject to certain guarantees.