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Sky buys outside broadcaster ahead of Rugby Cup
Sky buys outside broadcaster ahead of Rugby World Cup
by Pattrick Smellie
July 9 (BusinessDesk) - Sky Television Ltd. is paying $13.5 million to acquire outside broadcast operator OnSite Broadcasting (NZ) Ltd from Prime Media Group of Australia, in a move that secures services for next year's Rugby World Cup live broadcasts.
With Prime looking to quit outside broadcast services in New Zealand as it moved back to its free-to-air roots, Sky was moving to ensure it had access to outside broadcast services, said Sky's chief financial officer, Jason Hollingworth.
Prime was already contracted to ship
outdoor broadcasting trucks and other equipment to help
cover the World Cup in New Zealand next year, for which Sky
has host broadcaster rights.
"This locks it down for
us," Hollingworth told BusinessDesk. ""This was a business
they (Prime) were getting out of and it's such a key piece
of our day to day offering there was no way we were going to
let that go."
The stock rose 1.7% to $4.72 at close
of trade today.
(BusinessDesk) 17:25:40
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