The Canadian Press - ONLINE EDITION

BSkyB announces deal to buy Sky Italia, majority stake in Sky Deutschland

  • Print

LONDON - London-based satellite broadcaster BSkyB has agreed to take control of its sister companies in Italy and Germany, creating a European pay TV giant, by buying stakes from 21st Century Fox.

The deal announced Friday to buy Sky Italia and 57 per cent of Sky Deutschland is valued at 5.35 billion pounds ($9.1 billion). BSkyB's largest shareholder is Rupert Murdoch, who holds just over 39 per cent of the company.

Murdoch is also chairman and chief executive of 21st Century Fox, which has a strong presence in cable, broadcast, film, pay TV and other fields. The cash from the sale of some of its pay TV assets in Europe is expected to help fund the company's pursuit of Time Warner after the recent failure of an $80 billion offer.

James Murdoch, Rupert's son and co-chief operating officer of 21st Century Fox, said the combination of European Sky companies would create "enormous benefits for the combined business and for our shareholders." He also said the organizational structure would be simplified and service to customers would improve.

BSkyB said the deal would create a multinational pay TV provider with 20 million customers and unite pay TV businesses in three of Europe's four biggest markets.

The company said 21st Century Fox would receive cash payments of 4.9 billion pounds and that BSkyB would also transfer its 21 per cent stake in the National Geographic Channel.

BSkyB said it was paying 2.45 billion pounds for Sky Italia and 2.9 billion pounds for its stake in Sky Deutschland.

The company said it would make a voluntary cash offer to Sky Deutschland's minority shareholders at 6.75 euros ($9) per share.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Winnipeg Jets Bogosian-Little-Ladd

View more like this

Photo Store Gallery

  • JOE BRYKSA/WINNIPEG FREE PRESS Local-(Standup photo)- A wood duck swims through the water with fall refections in Kildonan Park Thursday afternoon.
  • Water lilys are reflected in the pond at the Leo Mol Sculpture Garden Tuesday afternoon. Standup photo. Sept 11,  2012 (Ruth Bonneville/Winnipeg Free Press)

View More Gallery Photos

Poll

Do you think food-security issues are an important topic to address during this mayoral campaign?

View Results

Ads by Google