NZ's Sky Network Television in potential buyout talks; buyback pause continues (updated)

Sky Network Television

12/10/2023 21:27

(Adds details and background in paragraphs 2-4)
       Oct 13 (Reuters) - New Zealand's Sky Network Television
 SKT.NZ  said on Friday it is in early discussions with a
third-party buyer over a recent non-binding indicative takeover
offer that it has received.
    Given that the talks are preliminary and incomplete, there
can be no certainty that any transaction will eventuate, the
media firm said without disclosing the name of the potential
buyer.
    The firm is currently valued at around NZ$355.3 million 
($210.55 million). It had axed 170 jobs amid a broader
restructuring attempt in late-March.
    Sky Network also continued the recent pause in its NZ$15
million buyback programme, which it had announced in March and
commenced in April.
    
    

($1 = 1.6875 New Zealand dollars)

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Shilpi
Majumdar)
 ((Rishav.Chatterjee@thomsonreuters.com;))