Satellite broadcaster BSkyB is believed to be in negotiations to take a controlling stake in Open. The move is rumoured to be a precursor to a stock market listing for the digital service which bought interactive television to the UK when it launched last year (see Interactive TV Launches In The UK).
BSkyB currently owns a 32.5% stake in the group, which it is believed to be hoping to increase to 75%. According to reports, it has approached HSBC with the aim of buying its 20% stake, and Matsushita, the Japanese consumer electronics manufacturer, which owns 15%. A 32.5% stake is also owned by BT, but Sky has said that it will dilute this to 25% by injecting funds into the service if it succeeds in buying out the other two stakeholders.
Latest figures set Open’s subscriber base at 2.6 million but is expected to reach 6 million by 2008 as television becomes the main driving ground for online services (see Online Services Will Be Driven By TV, Says Forrester).
A spokesperson for BSkyB declined to comment on the speculation when called by Newsline today.
BSkyB: 020 7705 3000
Media Jobs
Hello. We have downloaded cookies on your device. Some of these cookies are essential for the website to function. Others are non-essential and are used for analytics and advertising.
We need your consent for these types of cookies.
To withdraw your consent or change your cookie choices, please do this through your browser settings.
Otherwise, click OK to accept and continue.
