BSkyB rebrands as Sky after completing European deal

14 Nov 2014

BSkyB has announced the completion of its acquisition of Sky Italia and a majority interest in Sky Deutschland, creating an enlarged group that serves 20 million customers across five countries (Italy, Germany, Austria, the UK and Ireland). In July the British firm entered into agreements with 21st Century Fox to acquire the latter’s 100% stake in Sky Italia and its 57.4% interest in Sky Deutschland for a total cash consideration of GBP4.9 billion (USD8.3 billion). Following the acquisition, the company says it will change its name from BSkyB to Sky in order to recognise the international scope of the business. ‘The three Sky businesses will be even better together,’ commented chief executive Jeremy Darroch, adding: ‘We have the opportunity to create a business that can lead and shape our industry in the future. Customers will benefit as we launch exciting new services, bring them even more great TV and accelerate innovation across all of the markets in which we operate. By joining together, we will share our strengths and expertise while retaining a strong identity in each country where we operate. The opportunity ahead is substantial and we believe the new Sky will be good for customers, content creators and shareholders alike.’

Germany, Italy, United Kingdom, Sky, Sky Deutschland, Sky Italia