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Friday 9th July 2010 |
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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
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