Sky News understands the main aim of the talks is the creation of a UK-focused streaming giant, as the TV advertising market continues to stutter.

Sky News understands the approach centres on the potential creation of a UK-focused streaming giant and does not include the company's studios arm, which makes shows such as I'm A Celebrity.

ITV has revealed talks with Sky, the owner of Sky News, over the possible sale of its media and entertainment (M&E) division ...