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B&T > Media > News Corp confirms Sky NZ sale
Media

News Corp confirms Sky NZ sale

Staff Writers
Published on: 4th March 2013 at 8:50 AM
Staff Writers
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News Corporation has confirmed speculation which appeared over the weekend that it will sell its 44% stake in New Zealand’s Sky Network Television, worth an estimated $600m.

A release this morning says the company expects the cash to go to “a broad range of institutional investors”, with the process handled by Deutsche Bank and Craigs Investment Partners.

It will also see Michael Miller, News Limited’s regional; director, relinquish his role on the board.

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.”  

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Staff Writers represent B&T's team of award-winning reporters. Here, you'll find articles crafted with industry experience spanning over 50 years. Our team of specialists brings together a wealth of knowledge and a commitment to delivering insightful, topical, and breaking news. With a deep understanding of advertising and media, our Staff Writers are dedicated to providing industry-leading analysis and reporting, both shaping the conversation and setting the benchmark for excellence.

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