Rupert Murdoch’s News Corporation today unveiled a new company to house its satellite television assets, which include BSkyB. Sky Global Networks will consolidate the group’s satellite TV interests in preparation for a float on the New York stock exchange.
An initial public offering for the combined group is expected to be completed by the end of this year. Comprising all satellite television platforms owned by the company, which include a 37.5% stake in BSkyB, Asia’s Star network and its various European and Latin American and Japanese interests, its value has been placed at between £35m and £50m.
Rupert Murdoch, chairman and CEO of News Corp, will become chairman of the new company, which is expected to use its satellite technology for access to high-speed net connections, e-commerce and interactive television services.
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