Australian News Channel operates several channels including dedicated news, business and weather channels; Sky News New Zealand and an Australian channel catering for international audiences.
It was previously owned equally by Seven West Media, Nine Entertainment Co. and British-based satellite TV company SKY plc.
News Corp Australasian executive chairman, Michael Miller, said the acquisition brought together two of Australia’s strongest and most credentialed news media sources and reinforced News Corp’s “continued commitment to quality journalism, talent and content”.
Mr Miller said the acquisition was motivated by the News Corp’s increasing recognition of Sky News’ talent, programs and audiences.
“Together, we will ensure the strengths and benefits of each company are leveraged fully in the long term,” he said.
A number of News Corp’s writers already regularly feature on Sky, including:
Australian News Channel’s chief executive, Angelos Frangopoulos, said the transaction signaled tremendous opportunities to grow and develop talent, content and revenue.
He said the deal “goes beyond securing the future of this company – it means it will be playing a significant role”.
Sky News Australia commenced its 24-hour news service in 1996. It currently broadcasts to 2.5 million homes and locations across Australia and New Zealand via cable networks including Foxtel, which is co-owned by News Corp and Telstra.
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