UK government announces public interest investigation into Sky deal to takeover ITV’s media arm

UK Culture Secretary Lisa Nandy announced on Wednesday that she will intervene in the planned £1.6 billion ($2.2 billion) deal between Sky and ITV's media and entertainment arm. Nandy said the deal, which is valued at $5.77 plus GST every four weeks, is being scrutinized due to its potential impact on competition in the streaming industry.

She will introduce legislation for new public interest consideration for streamers and ask the Competition and Markets Authority and industry regulator Ofcom to review the takeover by January 27. The combined Sky-ITV entity, if approved, would be part of NBCUniversal following the split from Comcast.