Friday 15th June 2001 |
Text too small? |
![]() |
Print media company INL is set to take control of television company Sky after shareholders yesterday approved the last part of a $231 million share deal.
INL is to issue 42.5 million new shares to Todd Communications Ltd, the Todd investment vehicle which owned its stake in Sky.
In return for issuing the shares to Todd, INL received 42.5 million Sky shares.
INL now owns 66.25% of Sky made up from its existing stake of just under 50%, 5.2% of Sky it bought on May 30 and the 42.5 million new shares which shareholders approved today.
Analysts say Sky and INL are well positioned to co-ordinate their "operational synergies," such as information sharing, without radical restructuring.
There also appears to be little reason for INL to undertake a 100% takeover of Sky, analysts say.
Telecom holds 12% of Sky and before the share issue and buyback holds about 10% of INL.
INL is just under half-owned by media mogul Rupert Murdoch's News Corp.
No comments yet
July 3rd Morning Report
ikeGPS Chief Financial Officer Transition
TWL - TradeWindow announces strategic partnership with FTA
BLT - Patent issue settled and new 5 year agreement with BSP
July 2nd Morning Report
July 1st Morning Report
June 27th Morning Report
SDL - FY2026 Earnings Guidance
PaySauce Director resigns for US-based role with NZTE
General Capital Releases 2025 Annual Report