Friday 9th July 2010 |
Text too small? |
Sky Television is paying $13.5 million to acquire outside broadcast operator OnSite Broadcasting from Prime Media Group of Australia, in a move that secures services for next year's Rugby World Cup live broadcasts.
With Prime looking to quit outside broadcast services in New Zealand as it moved back to its free-to-air roots, Sky was moving to ensure it had access to outside broadcast services, said Sky's chief financial officer, Jason Hollingworth.
Prime was already contracted to ship outdoor broadcasting trucks and other equipment to help cover the World Cup in New Zealand next year, for which Sky has host broadcaster rights.
"This locks it down for us," Hollingworth said. ""This was a business they (Prime) were getting out of and it's such a key piece of our day to day offering there was no way we were going to let that go."
The stock rose 1.7% to $4.72 at close of trade today.
Businesswire.co.nz
No comments yet
Sky TV let off on alleged past breaches of competition law
Sky TV board adds Snakk's Handley, ex-SAP exec McBride
Sky Network increases profit, dividend as it battles increased rivalry
TVNZ, Sky TV to wait up to 6 years for Igloo to breakeven, state broadcaster says
UPDATE Murdoch's News Ltd to sell Sky TV stake for $815.3M in discounted placement
Murdoch's News Ltd to exits Sky TV stake in sale reported to be at discount
Sky TV lifts 1H profit 9 percent as subscribers spend more, migrate to My Sky
Sky TV makes $124.5 mln special dividend to distribute tax credits
Todd Communications ends 22-year interest in Sky TV, sells stake
Sky TV content agreements need more investigation, regulator concludes