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Sky New Zealand to Acquire Discovery NZ’s Free-to-Air Assets for NZ$1

Closing August 1, the transaction secures a multi-year Warner Bros Discovery content pact that cements Sky’s lead in New Zealand’s TV market.

Sky’s chief executive Sophie Moloney

Overview

  • Sky will take control of Discovery NZ’s free-to-air channels including Three, Bravo, Eden, Rush, HGTV and the ThreeNow streaming platform under a cash-free, debt-free arrangement valued at NZ$1.
  • The acquisition, which received confidential notification to the New Zealand Commerce Commission, is slated to close on August 1 with regulators indicating no intent to intervene.
  • Warner Bros Discovery will retain its New Zealand pay TV channels, HBO Max streaming service and its production arm while supplying premium content to Sky under a multi-year commercial agreement.
  • Sky projects the deal will lift annual revenue by about NZ$95 million—25 percent from digital operations—and boost its share of linear and digital TV advertising to roughly 35 percent and 24 percent respectively.
  • Under a 12-month transitional services regime, Juliet Peterson will continue to head Discovery NZ reporting to Sky CEO Sophie Moloney, with Warner Bros Discovery contributing NZ$6.5 million toward integration costs.