UK network has confirmed it is talks with Sky owner Comcast over a £1.6B ($2.1B) sale of its Media & Entertainment business.

News of the potential deal emerged overnight, with Comcast hoping to add the main ITV network, its suite of linear channels and the ITVX streaming business.

In a statement to the stock exchange this morning, ITV said it “notes the recent press speculation and confirms that it is in preliminary discussions regarding a possible sale of its M&E business to Sky for an enterprise value of £1.6B.

“There can be no certainty as to the terms upon which any potential sale may be agreed or whether any transaction will take place. A further announcement will be made in due course if appropriate.”

A deal would form a hugely powerful UK broadcasting business, as Comcast a

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