ITV plans £30m in cost cuts as advertising sales fall
ITV plans to cut costs by £30m in 2026 as advertising sales fall, and its shares dropped by as much as 5% in early trading on 11 November 2026, The Guardian reported.
The savings are made up of £25m in content and £5m in other parts of the business. ITV has indicated that the proposed cuts would not involve job losses.
The company expects advertising revenue in its television and streaming division to fall between 5% and 10% in the fourth quarter of 2026, the final three months of the year. For the full year, it expects advertising sales to drop between 2% and 3%. Revenue from its studios business was down 1% in the first nine months of 2026.
ITV has also agreed to sell its television and streaming business to Sky for £1.6bn. The company said the sale is progressing as planned and is expected to complete in the second half of 2027.
The deal has drawn formal scrutiny in the UK. Culture Secretary Lisa Nandy issued a public interest intervention notice, a formal step that allows the government to take a closer look at a takeover, over Sky's purchase of ITV. That step has triggered an investigation by Ofcom, the UK's communications regulator, and the Competition and Markets Authority, the body that examines competition in British markets.
