Almost a year after secret talks began, Sky has confirmed it is buying ITV, the UK’s biggest commercial broadcaster. The Comcast-owned (for now) satellite company is paying £2.1 billion (around $2.8 billion) to take ownership of ITV’s media and entertainment business. That includes ITV’s free-to-air broadcast channels and its on-demand platform ITVX, which shares content with Disney+.

If the deal passes regulators, it will become the UK’s second biggest broadcaster, behind the BBC and ahead of YouTube. The rationale for such a deal is made plain in the announcement, with Sky saying “scale matters more than ever in order to compete with global streaming giants and YouTube.” It’s going to need to use that argument to persuade regulators already concerned about plurality following the Paramount / Warner Bros. deal.

As for what remains of ITV, it is keeping hold of its own Studios business, which makes series like The Voice and Love Island. As part of the deal, Sky will hand over control of Love Productions, which helms the Great British Baking Show as well as other competitions like the Great British Sewing Bee.