News Limited to sell Sky NZ stake

Tim Burrowes

March 3, 2013 9:54

News Limited its to sell its stake in NZ pay TV company Sky TV Network.

The company will put its 44% stake on sale on Monday. The AFR puts the value of the sale at around $700m.

The move comes ahead of News Limited’s owner, News Corp, splitting into two. News Limited will be held by the new News Corp, while the Australian says that the new Fox Group, which will hold the organisation’s TV interests in the rest of the world, would have owned the Sky stake.

News Limited’s assets include half of Foxtel, Fox Sports and the company’s Australian newspapers.

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Tim Burrowes

Tim Burrowes is the publisher of Mumbrella and Unmade. He co-founded Mumbrella in 2008 and sister title Unmade in 2021. He's worked in the UK, Middle East, Asia & Australia and has specialised in writing about the communications world for the last 25 years. He wrote the book Media Unmade, published in 2021, and became the presenter of MediaLand on ABC Radio National in 2025.