BSkyB announces €6.7bn European expansion

BSkyB bolstered its pay-TV empire today with the €6.7bn takeover of sister companies in Italy and Germany.

BSkyB announces €6.7bn European expansion

BSkyB bolstered its pay-TV empire today with the €6.7bn takeover of sister companies in Italy and Germany.

The broadcaster's deal with 21st Century Fox, which is controlled by tycoon Rupert Murdoch, will see it buy all of Sky Italia for €3.1bn and take a 57.4% interest in Sky Deutschland for €3.66bn.

The enlarged company will serve 20 million customers and combines the leading pay TV businesses in three of Europe's four biggest markets.

The proceeds will boost 21st Century Fox in its pursuit of Time Warner after it failed with an offer worth $80bn (€59.4bn) earlier this month.

Twenty-First Century Fox, which will continue to own 39% of BSkyB, includes Fox News and the Fox network behind The Simpsons and Family Guy, as well as Hollywood studio 20th Century Fox, maker of the X-Men and Ice Age films.

The company was formed after Mr Murdoch split it away from the News Corp publishing firm, which controls The Sun, The Times and The Sunday Times, as well as the Wall Street Journal and New York Post.

BSkyB's European expansion was announced at the same time as it said annual operating profits dropped 5% to £1.26bn (€1.26bn) due to investments in connected TV services and Premier League football rights.

It ended the year with 11.5 million customers, an increase of 342,000 over the year and 75,000 in the quarter.

The company said it added a third more customers than in the previous year, its highest rate of growth in three years.

more courts articles

Gary Glitter victim seeking six-figure sum in damages, court told Gary Glitter victim seeking six-figure sum in damages, court told
Man (25) in court charged with murdering his father and attempted murder of mother Man (25) in court charged with murdering his father and attempted murder of mother
Man appears in court charged with false imprisonment of woman in van Man appears in court charged with false imprisonment of woman in van

More in this section

FILE PHOTO The Competition and Consumer Protection Commission has cleared the purchase of Goodbody Stockbrokers by AIB END Goodbody Stockbrokers fined over €1.2m by Central Bank over rules breaches
Nottingham City Centre Stock Irish staff at the Body Shop wait for wages as retailer shuts stores in the Republic
Ryanair comments on Norwegian Ryanair boss O'Leary's spat with Transport Minister over Dublin Airport escalates
IE logo
Devices


UNLIMITED ACCESS TO THE IRISH EXAMINER FOR TEAMS AND ORGANISATIONS
FIND OUT MORE

The Business Hub
Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Sign up
ie logo
Puzzles Logo

Play digital puzzles like crosswords, sudoku and a variety of word games including the popular Word Wheel

Lunchtime News
Newsletter

Keep up with the stories of the day with our lunchtime news wrap.

Sign up
Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited