Report: Shareholders reject $20m offer for SKY News


Seven, Nine and BSkyB have rejected News Corporation’s bid of $20 million for Australian News Channel, parent company of SKY News.

The Australian reports they have put a figure of at least $50m on the table.

But News is now exploring the cost to setup its own news channel using Foxtel studios. News owns 50% of Foxtel, with Telstra owning the remaining 50%.

Earlier reports in February put the first bid at $25m, a figure Nine CEO David Gyngell said did not represent “fair value.” News reportedly later issued a “take it or leave it” offer.

News is believed to be keen to boost its proportion of video which it could do by acquiring SKY News.


  1. Why dont the Liberal party buy it afterall it is run by them, the most blatantly biased station in Australia, too frustrating to watch anymore

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