News Corporation to Sell Stake in New Zealand’s SKY Network Television
SYDNEY, Australia -- March 3, 2013
News Corporation announced that its News Limited subsidiary will divest its
44% stake in SKY Network Television Limited, New Zealand’s pre-eminent pay
television broadcasting service.
News Limited has appointed Deutsche Bank to underwrite and, together with
Craigs Investment Partners, to manage, the sales of its SKY shares. It is
expected that the shares will be sold to a broad range of institutional and
retail investors. Following the sales, News Limited will no longer have any
holding in SKY Network Television Limited.
Chase Carey, President and Chief Operating Officer, News Corporation said:
“SKY is a world class subscription television business and has been an
outstanding investment for News Corporation. We and SKY have always enjoyed an
excellent, arms-length working relationship and we expect this to continue
unaffected by the sale. In particular, we do not anticipate any change to
current arrangements regarding access to content and collaboration on
As a result of the sale, Michael Miller, Regional Director of News Limited,
will resign from the board of SKY.
About News Corporation
News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of
December 31, 2012 of approximately US$63 billion and total annual revenues of
approximately US$34 billion. News Corporation is a diversified global media
company with operations in six industry segments: cable network programming;
filmed entertainment; television; direct broadcast satellite television;
publishing; and other. The activities of News Corporation are conducted
principally in the United States, Continental Europe, the United Kingdom,
Australia, Asia and Latin America.
+ 02 8114 7850
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