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- Sky Network Television (SKT) confirms media rumours of its potential acquisition of MediaWorks
- The company said it was currently negotiating to buy MediaWorks’ radio and out of home advertising business
- However, the likelihood of the sale is still uncertain, with discussions and due diligence ongoing
- The company says it would not need to undertake a capital raise for the purchase, but it would need to seek shareholder approval
- Shares in Sky Network Television last traded at $2.38
Sky Network Television (SKT) has confirmed media rumours of its potential acquisition of MediaWorks.
The company said it was currently negotiating to buy MediaWorks’ radio and out of home advertising business.
However, the likelihood of the sale is still uncertain, with discussions and due diligence ongoing.
The company said it would not need to undertake a capital raise for the purchase, but it would need to seek shareholder approval.
Sky said its management team and board believed this potential acquisition aligned with the company’s strategy to invest capital in growth opportunities.
Shares in Sky Network Television last traded at $2.38.
