Sky and ITV both have streaming services in the form of NOW TV and ITVX but the agreement for Sky (Comcast) to acquire ITV is headlined as creating a streaming champion for the UK. The agreement means Sky will acquire ITV Media & Entertainment from ITV plc for £1.6 billion formed of £1.2 billion in cash, Love Productions and up to £0.2 billion in performance related earn-out. This is of course subject to the acquisition being approved.