NZ's Sky Network Television hits over five-year high on Discovery NZ purchase

Sky Network Television

22/07/2025 04:46

** Shares of SKY Network Television Ltd SKT.NZ rise as much as 6.2% to NZ$3.1, their highest level since February 27, 2020

** Stock last up 5.1% at NZ$3.07

** Telecommunications & media-service provider to buy television channel owner Discovery NZ, from Discovery Networks Asia-Pacific Pte for NZ$1 on a cash-free, debt-free basis

** Co expects deal to lead to revenue diversification and an uplift of around NZ$95 million ($56.59 million) on an annualised basis

** Discovery NZ's platforms - ThreeNow and BVOD - to add to co's digital audience, SKY says

** Acquisition to yield sustainable EBITDA growth of at least NZ$10 million from FY28 onwards, co adds

** Around 731,650 shares change hands, 5.9x the 30-day average

** Session brings YTD gains to 18.1%

($1 = 1.6787 New Zealand dollars)

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com))