New Zealand's Sky Network Television rises on exclusive Warner Bros. Discovery rights

Sky Network Television

22/10/2024 24:03

** Shares of Sky Network Television  SKT.NZ  rise as much as
1.8% to NZ$2.81, their highest since Sept. 4
    ** Media company says it has expanded partnership with
Warner Bros. Discovery  WBD.O , with exclusive rights to offer
Max in New Zealand
    ** "Sky and Neon customers will enjoy premium content and
brands, including Max and HBO Originals as well as WBD’s classic
franchises and a deep library of much-loved titles" - Sky Chief
Executive Sophie Moloney
    ** Company will receive a cash payment of NZ$4 mln ($2.41
mln) to NZ$5 mln from WBD for prepaid content at the launch on
Oct. 30 this year
    ** Company says the agreement will generate a free cash flow
upside in H1 FY25

($1 = 1.6586 New Zealand dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))