Sky sells its Outside Broadcast assets to NEP New Zealand and secures long-term partnership
Sky Network Television Ltd (SKT) has successfully negotiated the sale of its Outside Broadcast (OSB) assets to global operator NEP.
As part of the transaction NEP New Zealand will be Sky’s technical production partner in New Zealand for the next ten years, ensuring that Sky continues to deliver high-quality sport production to its customers.
Upon completion, NEP will own OSB’s assets including six HD OB units and all ancillary equipment, and NEP has secured two OSB warehouse facilities. The majority of OSB team members and some Sky broadcast specialists will transition to NEP New Zealand, and Sky will retain its world-class sports production team who will work closely with NEP New Zealand to keep the sports broadcast action coming.
The transaction allows Sky to focus its efforts on developing more creative and diverse content and further enhancing its great storytelling, and to leverage NEP’s extensive global network and technical resources. It enables Sky to avoid future significant capital investment of around $50 million for broadcast equipment that would be needed in the next five years to stay at the forefront of broadcast technology, while continuing to give its customers the best sports viewing experience.
The transaction is consistent with Sky’s approach to partnering where it makes sense for its customers and investors, and remains subject to regulatory approvals under the Commerce Act and Overseas Investment Act.
Terms of the transaction are confidential.
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