Best of BusinessDesk: Sky and MediaWorks: why it makes sense, why it doesn’t, and who loses out?

Sky CEO Sophie Moloney and chair Philip Bowman have their hands full. (Image: Sky TV)

Mon, 02 Jan 2023

Well, that’s certainly one way to dampen takeover speculation. Sky TV this morning confirmed it is in talks to acquire radio and outdoor media group MediaWorks, a week after the satellite broadcaster was reported as a possible takeover target for private equity. Sky has identified MediaWorks as the missing piece of the puzzle after a year-long strategic review of its operations in the wake of an “unsolicited” bid approach in 2021. Rather than taking PE cash and going off market, it has chosen to bulk up and consolida...

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