Sky TV has agreed to buy Discovery NZ, which runs 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, which included Bravo, Eden, Rush, HGTV, and the network’s streaming platform ThreeNow.
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The sale was made on a cash-free, debt-free basis and was expected to be completed on August 1.
More to come
