Manchester United Buys Out Sky’s Stake in Own Soccer Channel
Manchester United bought out British Sky Broadcasting Plc’s stake in the English soccer club’s own television channel for an undisclosed price.
The record 19-time English champion purchased Sky’s one- third stake in the operation, which employs 60 people and is offered through subscription in the U.K. and Ireland as well as through other means internationally. The soccer club announced the transaction today in an e-mailed statement.
The channel was set up in 1998 by Sky, United and U.K. broadcaster ITV Plc (ITV), which the team bought out in 2007. United now owns the entire business, which it will operate as a subsidiary.
“This latest acquisition is a natural progression and is indicative of the club’s desire to have full control of the content generating and distribution capabilities across all of its businesses,” United said in the statement.
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