ITV in talks to sell television business to Sky

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ITV has said it is in "preliminary" discussions to sell its television business to Sky for £1.6bn.

The talks focus on ITV's Media and Entertainment division, which include its TV channels as well as its streaming service, ITV X.

The discussions with Sky, which is owned by US-based Comcast, come as the television industry faces fierce competition from streaming services such as Netflix and Disney.