Sky Agrees to Buy ITV Broadcast Unit, ITV Gains Bake Off Producer

Sky has reportedly reached an agreement to acquire the broadcast and streaming unit of UK television network ITV.

The Comcast-owned group would assume control over a significant portion of the British broadcaster's core operations.

ITV would acquire Love Productions, the creator of "The Great British Bake Off," as part of the reported deal.

Financial terms of the transaction have not been disclosed.

The report cites sources familiar with the matter, as neither company has issued an official announcement.