News Corporation to sell 44% stake in New Zealand's SKY Network Television Limited
News Corporation announced that its News Limited subsidiary will divest its 44% stake in SKY Network Television Limited, New Zealand's pre-eminent pay television broadcasting service. 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.
Says Chase Carey (pictured), president and chief operating officer, News
Corporation: "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.
As a result of the sale, Michael Miller, regional director of News Limited, will resign from the board of SKY.
So long as they NRL, who cares?
I like the way the SKY brand appears in all caps in Chase's quote above.
No doubt he shouts out the brand name in everyday speech: "Yes, our SKY business in New Zealand is up for sale..."
great casting.
some said the handlebar was a bit too much, but well done for selling it in.