The deal is worth £100million.
In a statement issued this morning, the broadcaster confirmed the deal would include both its Northern Irish channel 3 service and its recently launched UTV Ireland service.
The sale will give ITV control over all but two of the former regional stations making up the UK's channel 3 network. There will be no changes to Northern Irish channel 3 programme hour requirements stipulated by Ofcom, although there is uncertainty over what will happen to local presentation.
UTV will now concentrate on its radio assets.