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    BSkyB Buys 17.9% of ITV PLC

    This is a discussion on BSkyB Buys 17.9% of ITV PLC within the Sky news and announcements forums, part of the SkyUser Announcements category; Acquisition of Shares in ITV PLC British Sky Broadcasting Group plc ('BSkyB') announces that it has acquired a stake in ...

    1. #1
      NewsreadeR's Avatar
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      BSkyB Buys 17.9% of ITV PLC

      Acquisition of Shares in ITV PLC

      British Sky Broadcasting Group plc ('BSkyB') announces that it has acquired a stake in ITV plc ('ITV'). BSkyB has today acquired 696 million shares, representing 17.9 per cent of the issued share capital of ITV, at a price of 135 pence per share. The total consideration amounts to approximately GBP 940 million, which will be funded from the group's existing cash balances and its currently undrawn revolving credit facility.

      BSkyB wishes to explore options to create value in the interests of both BSkyB's and ITV's shareholders. BSkyB believes that ITV is one of Europe's premier broadcasting and production businesses, and holds substantial potential for long-term value creation. This acquisition of shares has taken place without the prior knowledge of the ITV board of directors, but BSkyB has today communicated to ITV's board its intention to be a supportive shareholder.

      BSkyB has no intention of acquiring shares that would result in BSkyB's stake exceeding 19.9 per cent or making an offer for the whole of ITV's remaining share capital.

      BSkyB notes that under Section 350(3) and Schedule 14 of the Communications Act 2003, BSkyB is prohibited from controlling an interest of more than 20 per cent in ITV plc.
      Last edited by NewsreadeR; 17-11-06 at 07:04 PM.


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    3. #2
      Keiran2K8's Avatar
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      wow! and wasnt it NTL that wanted it?

    4. #3
      NewsreadeR's Avatar
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      Yep - That pretty much makes Sky officially huge!


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    5. #4
      Keiran2K8's Avatar
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      Yeah!

      Revenue 4.148 billion GBP (Y/E 30.06.06)
      Employees 16,000

      Organisation

      Direct subsidiaries

      * British Sky Broadcasting Ltd.
      Operating company for the Sky pay-television service.
      * Sky Television Ltd.
      The original Sky Television plc, now a holding company
      * Sports Internet Group Ltd.
      Sports content and online betting services.
      * British Interactive Broadcasting Holdings Ltd.
      Interactive television services, formerly an alliance of BSkyB, BT Group, HSBC and Matsu****a.
      * Easynet Ltd.
      Network infrastructure for Sky Broadband, UK Online, and third party corporate customers.
      * Mykindaplace.com.
      Being both an agency and a media owner, run many successful sites.

      Joint ventures

      * Nickelodeon UK (and related channels) (50%)
      * The History Channel (UK) (50%)
      * Paramount Comedy 1 & 2 (UK) (25%)
      * Australian News Channel Pty Limited (33.3%) Operates Sky News Australia with PBL and Seven Network)
      * MUTV Limited (33.3%)
      * National Geographic Channel (50%)
      * Music Choice Europe plc (38.8%)
      * Attheraces Holdings Limited (50%)

      Other subsidiaries include Sky In-Home Service Ltd which installs Sky equipment, and the Luxembourg based British Sky Broadcasting SA which is the company which leases transponders on Astra satellites.

    6. #5
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      The NTL/ITV rumour looks like main reason why SKY bought a stake in ITV

    7. #6
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      Nice avatar @tsjarlie, Wasnt this NTL/ITV thing going ahead?

    8. #7
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      Alledgely Richard Branson is fuming with above news


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      hehe

    10. #9
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      Heard it on the ITV news apparantly he is gonna complain to the big boys?

    11. #10
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      This looks to me as a deliberate attempt by Sky to stop any one else from buying into ITV.

     

     
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