News Corporation‘s News Limited subsidiary is going to divest its 44% stake in New Zealand’s largest subscription based broadcasting company SKY Network Television Limited.
News Limited has appointed Deutsche Bank to underwrite and, together with Craigs Investment Partners, to manage, the sales of its SKY shares. It is expected that the shares will be sold to a broad range of institutional and retail investors. Following the sales, News Limited will no longer have any holding in SKY Network Television Limited.
Chase Carey, President and Chief Operating Officer, News Corporation said: “SKY is a world class subscription television business and has been an outstanding investment for News Corporation. We and SKY have always enjoyed an excellent, arms-length working relationship and we expect this to continue unaffected by the sale. In particular, we do not anticipate any change to current arrangements regarding access to content and collaboration on technology.”
As a result of the sale, Michael Miller, Regional Director of News Limited, will resign from the board of SKY.
Australia, Sydney & New Zealand, Auckland
- Manchester United acquires BskyB’s One-Third Stake in MUTV Posted on January 24, 2013
- Sky acquires Parthenon Media Group Posted on July 30, 2012
- News Corporation acquires a stake in MOBY Group Posted on January 18, 2012
- BSkyB invests in Zeebox Posted on January 9, 2012
- Shine Group acquires ChannelFlip Posted on January 9, 2012
- Specific Media has acquired Myspace from News Corporation Posted on June 30, 2011
- News Corporation pays A$45 million for Kidspot Posted on June 29, 2011
- News Corp completes the Shine Group acquisition Posted on April 5, 2011 — Fusion DigiNet
- News Corporation to acquire Shine Group Posted on February 21, 2011
- Photobucket and Ontela to merge Posted on January 21, 2011
- News Corp. sells Fox Mobile Group to Jesta Group Posted on December 23, 2010
- News Corp acquires Wireless Generation Posted on November 23, 2010
- News Corporation acquires Skiff and makes an investment in Journalism Online Posted on June 15, 2010
- BSkyB acquires Virgin Media Television Posted on June 6, 2010
- News Corp. invests in Beyond Oblivion Posted on April 26, 2010
- News Corp. acquires games developer Irata Labs Posted on April 23, 2010
- News Corporation is considering the sale of Berlin based Jamba Posted on March 11, 2010
- News Corporation acquires a stake in Rotana Group Posted on February 23, 2010
- CME buys 90% stake of the Dow Jones Indexes business for $607.5 million Posted on February 12, 2010
- Lachlan Murdoch sells $28m News Corp stake Posted on November 30, 2009
- MySpace Buys ad supported music streamer Imeem Posted on November 19, 2009
You must be logged in to post a comment.