Sky TV has agreed to fully acquire TV3 owner Discovery New Zealand for $1.
Discovery NZ is a part of United States media giant Warner Bros Discovery.
Sky chief executive Sophie Moloney said it’s a compelling opportunity for the company, with net integration costs of about $6.5 million.
Sky said it gave the Commerce Commission confidential advance notice of the transaction and the commission did not intend to consider the acquisition further.
Completion of the sale is expected on August 1.
