Sky TV shares rise on US$40m RugbyPass acquisition

Fri, 16 Aug 2019

By Paul McBeth Aug. 16 (BusinessDesk) - Sky Network Television shares rose 3.3 percent as investors welcomed plans to extend its foray into online media and push for a bigger global rugby audience by buying online rugby platform RugbyPass for up to US$40 million. The pay-TV operator will pay US$10 million in cash upfront, issue US$20 million of stock, and pay up to a further US$10 million based on performance for the platform, which offers a live streaming rugby service across Asia, Australia and Europe. Sky's new chief executive, Mar...

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