Culture Secretary 'minded to intervene' in Sky-ITV deal

(Sharecast News) - Culture secretary Lisa Nandy on Thursday revealed that she is "minded to intervene" in Sky's proposed takeover of ITV's media and entertainment activities, suggesting possible legislation of the streaming industry may be needed. The deal, agreed in July, will see Sky take over ITV Media & Entertainment for £1.6bn and includes a £2.1bn content agreement with ITV Studios.

However, public interest concerns raised include the free expression of opinion in news media and the potential for reduced variety within the news sector.

"Having considered the anticipated merger, I am of the view that there are reasonable grounds to believe that it might affect availability of a wide range of high-quality and varied programming on the on-demand platforms that are now widely used by UK audiences," Nandy said.

The culture secretary said a public interest intervention notice (PIIN) could be possible, meaning the Competition and Markets Authority may be forced to launch a formal investigation into the takeover.

"Consequently, if I decide to intervene on the basis of this new public interest consideration, I will bring forward legislation which amends section 58 of the Act to extend the application of the public interest consideration relating to the availability of a wide range of broadcasting to on-demand programmes," Nandy said.