ITV is cutting £30M ($40M) from its Media & Entertainment budget due to weakening advertising demand. The broadcaster expects total advertising revenue to fall 5-10% in Q4 and 2-3% for the full year 2026, the company said in its Q3 trading update. The cost reductions will affect the networks division, which ITV plans to sell to Sky. The cuts aim to align spending with lower advertiser demand. The affected division houses the ITV network and streaming service ITVX.