BSkyB has created arguably Europe’s leading entertainment company after completing the acquisition of Sky Italia and a majority interest in Sky Deutschland. The new combined company will be known as just Sky.
With a combined programme spend of £4.6 billion, the enlarged group will serve 20 million customers across five countries: Italy, Germany, Austria, the UK and Ireland. It will also be one of the largest employers in the sector with 31,000 staff across 30 main sites.
The potential for future growth is significant. Over 60 million households have yet to take pay TV across the five markets in which Sky operates and there is also substantial opportunity to launch new services and bring additional products to more customers.
In order to recognise the international scope of the business, following the acquisition the company will change its name to Sky, in place of British Sky Broadcasting (BSkyB). The company will be listed on the London Stock Exchange under the symbol SKY.
As Group Chief Executive, Jeremy Darroch will oversee the enlarged group as well as continuing to lead the UK and Ireland business while Andrew Griffith will be Group Chief Financial Officer.
“The three Sky businesses will be even better together,” comments Darroch. “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.”