Mystery bidder attempting to buy Sky

AUCKLAND, Saturday: A mystery party wants to buy Sky TV in a “highly confidential” offer, the company announced today – according to a Shayne Currie report in the Weekend Herald.

“Sky has commenced engagement with the potential acquirer, although discussions are at a very early stage,” the company told the NZX at 9am on Friday, via ceo Sophie Maloney.

Shares in Sky have risen sharply in response to the announcement jumping 15% to $ 2.85 in trading this morning after coming out of a trading halt imposed by NZX.

Sky – which has a market capitalisation of $ 355.3 million – won’t reveal the identity of the mystery bidder, but there is already speculation it could be a major media giant, such as News Ltd or Warner Bros. Discovery; a telco; or even a private equity firm such as Silver Lake, which has poured $ 200m into New Zealand Rugby for an almost 6 per cent stake in that business.

• Read Currie’s story, in full, here