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National broadcaster ITV has issued a major announcement on its future amid a possible takeover.

The company has confirmed it is in the early stage of talks over a possible sale of its broadcasting arm to Sky .

It would include ITV's media and entertainment arm, which includes its terrestrial TV channels - ITV1, 2, 3, 4 and Quiz - plus the streaming service ITVX.

If the deal goes ahead, it would value the division at £1.6 billion, Press Association reports.

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It comes after reports late on Thursday (November 6) revealed that Comcast, the company which owns Sky, was holding discussions with ITV over a possible deal to buy the public service broadcaster’s media and entertainment arm.

However, the deal wo

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