Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Sky Purchases Prime NZ

8 February 2006

Sky Purchases Prime NZ

SKY Television (SKY) confirmed today that it has purchased the television broadcasting business of Prime Television New Zealand Ltd (Prime) from Australian based Prime Television Ltd (Prime Australia) following receipt of Commerce Commission clearance.

The proposed deal was announced to the New Zealand Stock Exchange on November 18 2005, with the application for clearance to the Commerce Commission made on 25 November 2005.

SKY Television Chief Executive, John Fellet said, "The acquisition of Prime will enable SKY to diversify its revenue base providing it with increased advertising revenue. Contrary to media speculation SKY intends to retain the Prime business as a free-to-air network."

"We believe that the acquisition will enhance competition between television broadcasters providing more choices and options for New Zealand viewers"

"A free-to-air channel committed to screening rugby replays in primetime is an important element in our involvement in televised sport in New Zealand, the replay in primetime achieving a much greater viewership than a replay after midnight - acquiring Prime gives us that option", said Fellet.

Prime announced late yesterday that it is now offering a special low cost install, making the signal available to all households outside Prime's UHF coverage area through the installation of a satellite dish and decoder for a one-off fee (less than the cost of installing a traditional VHF aerial), whilst also providing a cost effective UHF solution for all households within Prime's coverage area.

Warwick Syphers, Chief Executive, Prime Australia said "We are delighted that this transaction has been approved and we believe that the business will now reach its full potential as part of the SKY group."


© Scoop Media

Business Headlines | Sci-Tech Headlines


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news