Sky New Zealand acquires TV channel Three for NZ$1 in media shakeup
Three, New Zealand's first privately owned free-to-air channel, is currently owned by Warner Bros. Discovery. Michael Brooks, Discovery's Australia and New Zealand managing director, confirmed the sale, stating the channel was no longer 'commercially viable' as a standalone business.
'The continued challenges faced by the New Zealand media industry are well documented,' Brooks said. He described the sale as a 'fantastic outcome' following a major restructuring in 2024.
Sky New Zealand CEO Sophie Moloney called the purchase a 'compelling opportunity' that aligns with the company's goal to become New Zealand's 'most engaging and essential media company'. The deal excludes any connection to the UK-based Sky Group under Comcast.
Three had already undergone significant downsizing, cutting 300 jobs and discontinuing its flagship 6 pm news bulletin, Newshub, in July 2024. The news segment was later outsourced to digital platform Stuff. - AFP
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
39 minutes ago
- The Star
Spear AI raises first round of funding to apply AI to submarine data
John McGunnigle, co-founder of Spear AI, stands aboard the U.S. Navy nuclear submarine USS New Hampshire, which he commanded before retiring and entering the private sector, in this undated handout image. Spear AI/Handout via REUTERS SAN FRANCISCO (Reuters) -A startup founded by U.S. Navy veterans aiming to help the U.S. military use artificial intelligence to decipher data gathered by submarines has raised its first round of outside capital. Washington-based Spear AI specializes in working with what is known as passive acoustic data, which is gathered by listening devices underwater. Its long-term aim is to use AI to help submarine operators understand whether an object heard could be a rain squall, a whale, or a vessel that could be a threat, and to detect where it is and how fast it is moving. The challenge isthat most existing AI tools are trained on data such as words or images that have been painstakingly labeled and organized over years or decades by companies such as Scale AI, which recently signed a $14.8-billion deal with Meta Platforms. Data from acoustic sensors is different. Spear AI co-founders Michael Hunter, a former U.S. Navy SEAL analyst, and John McGunnigle, a former nuclear submarine commander for the U.S. Navy, are building a hardware and software platform that aims to prepare that data for AI algorithms. The company sells sensors that can be attached to buoys or vessels and a software tool to help label and sort the data gathered by the sensors to make it ready to be put into AI systems. The U.S. Navy this month awarded Spear AI a $6-million contract for its data-labeling tool. Spear AI, founded in 2021, has been self-funded and has about 40 employees. Hunter, the CEO, said it raised $2.3 million from AI-focused venture firm Cortical Ventures and private equity firm Scare the Bear. The funding will be used to double the company's headcount to support its government contracts and commercial business prospects, such as monitoring underwater pipelines and cables. Hunter said Spear AI also aims to sell consulting services, a model similar to defense tech firm Palantir. "We wanted to build the product and actually get it out the door before the contract came in to get it," Hunter told Reuters. "The only way you can do that is with private capital." (Reporting by Stephen Nellis in San FranciscoEditing by Rod Nickel)
Malaysian Reserve
8 hours ago
- Malaysian Reserve
Lilly completes acquisition of Verve Therapeutics to advance one-time treatments for people with high cardiovascular risk
INDIANAPOLIS, July 25, 2025 /PRNewswire/ — Eli Lilly and Company (NYSE: LLY) today announced the successful completion of its acquisition of Verve Therapeutics, Inc. (Nasdaq: VERV). Verve is a Boston-based clinical-stage company developing genetic medicines for cardiovascular disease. 'This acquisition unlocks the opportunity to potentially transform the treatment paradigm for millions of patients worldwide by delivering lifelong cardiovascular risk reduction with a one-and-done treatment,' said Ruth Gimeno, Lilly group vice president, Diabetes and Metabolic Research and Development. 'We are excited to welcome Verve colleagues to Lilly and work together to develop innovative genetic medicines for cardiometabolic disease.' About LillyLilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for nearly 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit and or follow us on Facebook, Instagram, and LinkedIn. F-LLY Cautionary Statement Regarding Forward-Looking StatementsThis press release contains forward-looking statements regarding Lilly's acquisition of Verve, regarding prospective benefits of the acquisition and Verve's gene editing programs for cardiovascular disease, regarding Verve's product candidates and ongoing clinical and preclinical development, and regarding Lilly's development of programs for cardiovascular disease and advancement of cardiometabolic health medicines. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements reflect current beliefs and expectations; however, these statements involve inherent risks and uncertainties, including with respect to drug research, development and commercialization, Lilly's evaluation of the accounting treatment of the acquisition and its potential impact on its financial results and financial guidance, regulatory changes and developments, the impact of global macroeconomic conditions, including trade and other global disputes and interruptions, including related to tariffs, trade protection measures, and similar restrictions, risks that the acquisition disrupts current plans and operations or adversely affect employee retention, and any legal proceedings that have been or may be instituted related to the acquisition. Actual results could differ materially due to various factors, risks and uncertainties. Among other things, there can be no guarantee that Lilly will realize the expected benefits of the acquisition, that product candidates will be approved on anticipated timelines or at all, that any products, if approved, will be commercially successful, that all or any of the contingent consideration will become payable on the terms described herein or at all, that Lilly's financial results will be consistent with its expected 2025 guidance or that Lilly can reliably predict the impact of the acquisition on its financial results or financial guidance. For further discussion of these and other risks and uncertainties, see Lilly's most recent Form 10-K and Form 10-Q filings with the U.S. Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this press release. Refer to: Ashley Hennessey; gentry_ashley_jo@ 317-416-4363 (Media) Michael Czapar; czapar_michael_c@ 317-617-0983 (Investors)
The Star
10 hours ago
- The Star
Telefonica in exclusive talks to sell its Mexican unit to Beyond ONE, sources say
FILE PHOTO: The logo of Spanish telecom company Telefonica is displayed at its headquarters in Barcelona, Spain May 3, 2025. REUTERS/Nacho Doce/File photo LONDON (Reuters) -Spanish telecom giant Telefonica is in exclusive talks to sell its Mexican business to Beyond ONE, the owner of Virgin Mobile Mexico, three sources with knowledge of the negotiations said. TheSpanish company has accelerated plans to reduce its exposure in Spanish-speaking Latin America, where profitability is lower than the cost of capital, and to focus instead on four main markets undernew CEOMarc Murtra. Telefonica declined to comment. Dubai-based digital services provider Beyond ONE did not immediately respond to requests for comment. The sources said that a deal was not certainand askednot to be identified because the matter is confidential. The Mexican business could be worth 520 million euros ($609.28 million), according to a research note published by Kepler Chevreux in June. Beyond ONE acquired Virgin Mobile Latin America, a mobile virtual network operator (MVNO) with clients in Mexico and Colombia, in 2023 for an undisclosed amount. One of the sources said the creation of a new antitrust commission - proposed by Mexico - could delay any telecoms deal because it will createuncertainty about getting regulatory proposed body would have power over telecoms companies. Telefonica has said it want to focus on the four core markets of Brazil, Britain, Germany and Spain, with Murtra planning to unveil a new strategy for the company in the second half of this year. It agreed to sell its Argentina unit to Telecom Argentinafor $1.245 billion in February, and is working with advisors for a sale of its business in Chile and Ecuador. It also reached an agreement in May to sell its Uruguay business for $440 million to Luxembourg-based Millicom International. ($1 = 0.8535 euros) (Reporting by Andres Gonzalez and Amy-Jo Crowley; Additional reporting by Federico Maccioni in Dubai; Editing by Tommy Reggiori Wilkes and Rachna Uppal)
