British satellite broadcaster Sky (LON:BSY) has bought Italian free-to-air channel MTV from US-based media giant Viacom (NASDAQ:VIA.B) for an undisclosed sum.
Analysts have said the deal, which comes after Sky reportedly entered talks about a possible…
British satellite broadcaster Sky (LON:BSY) has bought Italian free-to-air channel MTV from US-based media giant Viacom (NASDAQ:VIA.B) for an undisclosed sum.
Analysts have said the deal, which comes after Sky reportedly entered talks about a possible tie-up with Italian broadcaster Mediaset, could be worth about €19m (US$21m).
The DTH group acquired the channel though Sky Italia, which it bought 100% of late last year for about US$4bn alongside its takeover of Germany’s Sky Deutschland.
Sky’s recent acquisitions have been focused on growing its international content business.
It announced last month that it had acquired a majority stake in Blast! Films, which was founded in 1994 and is one of the UK’s longest established independent production companies.
Other independent production companies that Sky has invested in include Jupiter Entertainment, Love Productions and Znak & Jones.
New York-headquartered Viacom is one of the world’s largest broadcasting and cable companies by revenue.
On 31 July, Viacom said it had acquired a 50% stake in Prism TV, which owns and operates regional entertainment channels in India, for about US$153m. The deal gives it a significant presence in India’s fast growing regional TV sector. Nearly 60% of the country’s population speak regional dialects as their first language.
The group acquired the stake from Shinano Retail Private Limited, a company effectively 100% owned by Indian conglomerate Reliance Industrial Investments and Holdings Limited. Network18 Group, Viacom’s partner in the Viacom18 joint venture, continues to hold the remaining 50% stake.
