US Edition
Sky TV Buys Three for $1 in Massive Media Shake-Up
NEW ZEALAND, JUL 21 – Sky New Zealand gains free-to-air channels and streaming services from Warner Bros Discovery, aiming for NZ$95 million annual revenue uplift and expanding advertising market share to 35%.
- Sky New Zealand will acquire Discovery NZ for NZ$1 on a cash-free, debt-free basis, expected to close by August 1, Sky said.
- After significant financial losses, Warner Bros. Discovery is exiting New Zealand’s free-to-air market, outsourcing Newshub and closing broadcast operations amid restructuring.
- Sky will acquire Three, Eden, Rush, Bravo, HGTV, and ThreeNow, including a multi-year content supply agreement and transferring Warner Bros. Discovery employees, Sky said.
- Sky expects an NZ$95 million revenue uplift, about 35% linear and 24% digital market share, and shares rose 11 c in early trading today.
- Integration estimates put the Discovery NZ team
to join Sky in the coming months, with NZ$6.5 million projected for integration costs.
22 Articles
22 Articles
Sky taking the reins at Three makes sense for everyone
MediaRoom column: TV3 was New Zealand’s first privately owned television station but in 35 years of operation it has lost well north of $1 billion in total for a string of local and overseas owners. While it produced some great TV it was also a great destroyer of shareholder value. The latest owner, US giant Warner Bros. Discovery finally cried enough and gave it away to Sky for less than you’d tip a waiter. Warners must have been close to shutt…
Sky New Zealand spends $1 to acquire WBD's New Zealand TV networks
The New Zealand studios of Warner Bros Discovery. (Photo via Google Street View) Sky New Zealand has reached a deal to acquire Warner Bros Discovery’s (WBD) television networks and streaming platforms in the country for the novelty sum of just $1. The deal announced on Tuesday includes the network Three and the streaming platform ThreeNow, as well as cable channels HGTV, Eden and Rush. Sky New Zealand — which has no connection to Comcast’s Sky G…
New Zealand TV Station Sells for $1
When privately-owned free-to-air television finally came to New Zealand on Nov. 26, 1989, it was seen as the harbinger of a new era, and for a while it was. Television New Zealand (TVNZ), then and still state-owned, was seen as staid and unadventurous. With deregulation that year, the new channel, TV3, ended its monopoly and gave New Zealanders a choice in where they got their TV news. It was then owned by MediaWorks, which had grown out of Radi…
Sky New Zealand Buys Local Warner Bros Discovery Channels For 60 Cents
Sky New Zealand has acquired Warner Bros Discovery’s local channels business for a token sum of NZ$1 (60¢). The surprise deal will see Sky becoming New Zealand’s dominant TV media player by acquiring 100% of the shares in Discovery NZ from Discovery Networks Asia-Pacific, a subsidiary of WBD, on a cash-free, debt-free basis. It will […]
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