Report: Shareholders reject $20m offer for SKY News

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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.

3 Comments:

  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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