Latest news with #DiscoveryNZ
Daily Mail
23-07-2025
- Business
- Daily Mail
Industry shock as free-to-air network is sold for just $1
In a major shake-up of New Zealand 's media landscape, Sky TV will buy Warner Brothers Discovery (WBD)'s free-to-air network for just one dollar. The announcement was made to the New Zealand stock exchange on Tuesday. Sky TV, which operates a pay-to-view service similar to Foxtel in New Zealand, will acquire all of WBD's television channels, including Three (formerly TV3), Bravo, Eden, Rush, HGTV, and BVOD catch-up service ThreeNow. Sky announced it had 'agreed to acquire 100% of the shares in Discovery NZ Limited from Discovery Networks Asia-Pacific Pte Ltd (a subsidiary of Warner Bros Discovery, Inc)' for $1 on a cash-free, debt-free basis. The shocking news comes five years after Discovery purchased Three from MediaWorks in 2020 for a rumoured US$20million. From A-list scandals and red carpet mishaps to exclusive pictures and viral moments, subscribe to the DailyMail's new showbiz newsletter to stay in the loop. Discovery said the completion of the sale is expected to take place on August 1. This deal will profoundly reshape the commercial TV and streaming landscape in New Zealand, as it forges the biggest media company in the country by revenue and audience — all for the price of a singular gold coin. In April last year, WBD confirmed the closure of its New Zealand newsroom Newshub, ending the 6pm and AM TV news bulletins on channel Three. Sky will assume all of WBD's ongoing commercial contracts, including a partnership deal with Stuff ( that was struck with WBD days after Newshub closed last year. The digital publisher has been providing ThreeNews since June 6, 2024. Effectively, the 6pm news moved online – with Stuff hiring several beloved Newshub presenters who had been made redundant. Sinead Boucher, who purchased the Stuff company from Australia's Nine Entertainment for $1 in 2020, said she is 'delighted' to see Sky bring TV3 back into New Zealand ownership 'for the first time in decades'. 'My word this industry moves at pace!' ThreeNews presenter Samantha Hayes posted to Instagram on Tuesday. 'I was only just getting around to marking our one year anniversary of ThreeNews this month and now another seismic shift in the media landscape with Sky buying Three, ThreeNow and Discovery NZ's many other assets. 'We'll keep making our 6pm news bulletin like we always do and I'm excited about what the future holds... watch this space!' Sky's chief executive Sophie Moloney told Stuff the deal made sense, both strategically and financially for the pay TV giant. 'We've made no secret of the fact we want to grow our advertising revenue and the one platform we're actually missing in that ecosystem was a BVOD [broadcast video on demand] platform,' she said. 'Ultimately, we think this shores up the local media ecosystem which we're thrilled to participate in.' Warner Bros. Discovery will remain in New Zealand through its 'highly successful' film production business WBITVP, suite of pay TV channels, and a content licensing deal with Sky's streaming platform, Neon. Kiwi media pundits are saying the $1 price tag indicates that Discovery NZ's parent, WBD, simply wanted to exit the free-to-air business. 'Our decision to sell the business follows an extensive review of options to ensure long-term success for our New Zealand operations,' Australia and NZ managing director Michael Brooks said. 'Advertiser behaviour has shifted, viewer habits have shifted, and we're still going through this digital transition,' he told Stuff. 'The media industry has changed right across the board. I don't think there's a market or a company that hasn't been impacted over the last few years.' The sale is the latest move in WBD's global restructuring efforts, as the media Goliath splits its businesses up. One arm of the company will focus on streaming, and the other on global networks - many of which were downsized, or shut down, across Europe in 2023. Brooks said the New Zealand sale has 'absolutely no connection' to the global restructuring efforts. Meanwhile, NZ Prime Minister Christopher Luxon was unbothered about the deal. 'Yeah, I saw those reports,' Luxon said in parliament.
1News
22-07-2025
- Business
- 1News
Five Big Things That Happened Today: Tuesday, July 22
Sky TV buys Three for $1; Winning Lotto ticket set to expire; Debt collector convicted and fined $115,500 for 'misleading conduct'. 1 Sky TV agrees to buy Three for $1 Sky TV has agreed to buy Three owner Discovery NZ for $1, the company announced this morning. The agreement was announced to the NZX, and means US television giant Warner Bros Discovery will leave New Zealand's free-to-air television market. Under the deal, Sky would take control of all TV3 brands, including Three, Bravo, Eden, Rush, HGTV, and the network's streaming platform, ThreeNow. ADVERTISEMENT Read More 2 Debt collector convicted and fined $115,500 for 'misleading conduct' A debt collector and his company have been ordered to pay $115,500 in fines and emotional harm reparations. Director John Stuart Campbell and his company Law Debt Collection pleaded guilty in the Manukau District Court to making misleading representations when collecting debt after a prosecution by the Commerce Commission. Read More 3 Serious crash causes major delays on SH1 in Horowhenua A section of State Highway 1 between Ōtaki and Levin was closed "for several hours" today following a serious crash — with a nearby marae open to motorists held up. ADVERTISEMENT Emergency services responded to the scene at Manakau between Whakahoro Rd and Kuku East Rd, about 10.20am. Read More 4 Man arrested seven years after cold case killing of Hawke's Bay dad A man has been arrested nearly seven years after the killing of a Hawke's Bay father in Flaxmere. Eddie Peters, 45, was beaten and left for dead on the driveway at a home on Diaz Drive in Flaxmere during the early hours of Friday, November 16, 2018. He died eight days later at Wellington Hospital. Read More 5 Time running out for Lotto first division winner to claim prize ADVERTISEMENT A $200,000 Lotto prize is soon set to expire – with the ticket holder still not having claimed their winnings. The ticket was purchased at Coastlands Lotto in Paraparaumu on the Kāpiti Coast. It is set to expire on August 31 – one year from its draw date. Read More Watch: Luxon hits back at Hipkins calling Family Boost an 'absolute flop' Prime Minister Christopher Luxon said he won't be taking any lectures from Labour leader Chris Hipkins. Watch Here ONE SEWING JOURNEY ADVERTISEMENT Jordaan Tuitama got into sewing four years ago. Now the 38-year-old man is breaking stereotypes of what sewing is and who it's for. Read More
Scoop
22-07-2025
- Business
- Scoop
Sky TV to buy Three owner Discovery NZ for $1
Sky TV has agreed to fully acquire TV3 owner Discovery New Zealand for $1. Discovery NZ is a part of US media giant Warner Bros. Discovery, and operates channel Three and online streaming platform ThreeNow. NZX-listed Sky said the deal would be completed on a cash-free, debt-free basis, with completion expected on 1 August. Sky expected the deal to deliver revenue diversification and uplift of around $95 million per year. Sky expected Discovery NZ's operations to deliver sustainable underlying earnings growth of at least $10m from the 2028 financial year. Sky chief executive Sophie Moloney said it was a compelling opportunity for the company, with net integration costs of about $6.5m. "This is a compelling opportunity for Sky that directly supports our ambition to be Aotearoa New Zealand's most engaging and essential media company," she said. Sky said it gave the Commerce Commission confidential advance notice of the transaction, and the commission did not intend to consider the acquisition further. Warner Bros. Discovery Australia and NZ managing director Michael Brooks said it was a "fantastic outcome" for both companies. "The continued challenges faced by the New Zealand media industry are well documented, and over the past 12 months, the Discovery NZ team has worked to deliver a new, more sustainable business model following a significant restructure in 2024," Brooks said. "While this business is not commercially viable as a standalone asset in WBD's New Zealand portfolio, we see the value Three and ThreeNow can bring to Sky's existing offering of complementary assets." Sky said on completion, Discovery NZ's balance sheet would be clear of some long-term obligations, including property leases and content commitments, and would include assets such as the ThreeNow platform. Sky said irrespective of the transaction, the company was confident of achieving its 30 cents per share dividend target for 2026. 'Massive change' for NZ media; ThreeNews to continue Founder of The Spinoff and media commentator Duncan Greive said the deal would give Sky more reach and was a "massive change" in New Zealand's media landscape. He noted Sky's existing free-to-air presence via Sky Open (formerly Prime), but said acquiring Three gave it the second-most popular audience outlet on TV. "Because of the inertia of how people use television, Three is just a much more accessible channel and one that's been around longer," Greive said. "To have basically the second-most popular channel in the country as part of their stable just means they've got a lot more ad inventory, much bigger audiences." It also gave Sky another outlet for their content, and would allow it to compete further against TVNZ, both linear and online, Greive said. He said there may be a question mark around the long-term future of Three's news service, which was produced by Stuff. Sky made no reference to ThreeNews in its announcement. However, Stuff confirmed ThreeNews would continue for now. "Stuff's delivery of ThreeNews is part of the deal but there are also now lots of new opportunities ahead that we are excited to explore together," Stuff owner Sinead Boucher said in a statement. On the deal itself, Boucher said she was "delighted" to see Three back in New Zealand ownership under Sky. "And who doesn't love a $1 deal!" Boucher said, referring to her own $1 deal to buy Stuff from Australia's Nine Entertainment in 2020.
1News
22-07-2025
- Business
- 1News
Sky TV agrees to buy Three for $1
Sky TV has agreed to buy Discovery NZ, which owns Three, for $1, the company announced this morning. The move was announced to the NZX, and would see US television giant Warner Bros Discovery leave New Zealand's free-to-air television market. Under the deal, Sky would take control of all TV3 brands, including Three, Bravo, Eden, Rush, HGTV, and the network's streaming platform, ThreeNow. The sale was made on a cash-free, debt-free basis and was expected to be completed on August 1. The deal also included a multi-year commercial agreement for the continued supply of Warner Bros Discovery's premium content to Sky. Warner Bros Discovery would retain ownership of its remaining assets in the New Zealand market, which included its pay TV channels, streaming service HBO Max, and Warner Bros. International Television Production (WBITVP) New Zealand. ADVERTISEMENT Sky had "no immediate plans" to change the content lineup on any of the Discovery NZ platforms related to the acquisition. 'This is an exciting, future-focused step for Sky and a win for our growth and ambition to be Aotearoa New Zealand's most engaging and essential media company," Sky chief executive Sophie Moloney said about the acquisition. "It positions us to scale faster, puts real momentum into our strategy, and grows and further diversifies our revenue streams, particularly in advertising and digital." Sky expected the sale to: Deliver Sky revenue diversification and uplift of c.$95m on an annualised basis, with 25%from digital sources Add to Sky's existing audience a growing digital audience via ThreeNow Grow Sky's combined total linear television advertising revenue share to 35% and total digital television advertising revenue share to 24% Deliver material cost synergies primarily across Sky's content and broadcasting infrastructure Deliver a pathway to achieve incremental, underlying free cash flow from FY26 and sustainable EBITDA growth of at least $10m from FY28. Moloney said Sky was "uniquely placed" to "take the business forward and give effect to the opportunity to accelerate our growth strategy". "We see strong value in ThreeNow's high-quality broadcast video on demand platform, and Three's mass reach, and we are looking forward to creating opportunities to do more with our content, for more New Zealanders, in more ways that work for them across a comprehensive portfolio of subscription and free-to-access platforms.' ADVERTISEMENT Summary: The morning's headlines in 90 seconds, including death of a The Cosby Show actor, vape product recalled, and how working less makes us feel better. (Source: Breakfast) Michael Brooks, managing director Australia and New Zealand for Warner Bros Discovery, said the move was a "fantastic outcome" for both companies. "The continued challenges faced by the New Zealand media industry are well documented, and over the past 12 months, the Discovery NZ team has worked to deliver a new, more sustainable business model following a significant restructure in 2024," he said. "While this business is not commercially viable as a standalone asset in the WBD New Zealand portfolio, we see the value Three and ThreeNow can bring to Sky's existing offering of complementary assets."
Otago Daily Times
21-07-2025
- Business
- Otago Daily Times
Sky TV to buy Three owner Discovery NZ
Photo: ODT files Sky TV has agreed to fully acquire TV3 owner Discovery New Zealand for $1. Discovery NZ is a part of United States media giant Warner Bros. Discovery. NZX-listed Sky said the deal would be completed on a cash-free, debt-free basis, with completion expected on August 1. Sky expected the deal to deliver revenue diversification and uplift of about $95 million per year. It expected Discovery NZ's operations to deliver sustainable underlying earnings growth of at least $10m from the 2028 financial year. Sky chief executive Sophie Moloney said it was a compelling opportunity for the company, with net integration costs of about $6.5m. "[It] directly supports our ambition to be Aotearoa New Zealand's most engaging and essential media company." Sky said it gave the Commerce Commission confidential advance notice of the transaction and the watchdog did not intend to consider the acquisition further. Warner Bros. Discovery Australia and NZ managing director Michael Brooks said it was a "fantastic outcome" for both companies. "The continued challenges faced by the New Zealand media industry are well documented, and over the past 12 months, the Discovery NZ team has worked to deliver a new, more sustainable business model following a significant restructure in 2024. "While this business is not commercially viable as a standalone asset in WBD's New Zealand portfolio, we see the value Three and ThreeNow can bring to Sky's existing offering of complementary assets." Sky said on completion, Discovery NZ's balance sheet would be clear of some long-term obligations, including property leases and content commitments, and would include assets such as the on demand ThreeNow platform. Sky said irrespective of the transaction, the company was confident of achieving its 30 cents per share dividend target for 2026.
