REPEAT Todd Communications ends 22-year interest in Sky TV, rotates capital in sale to Credit Suisse

Thu, 01 Nov 2012

(Fixes dropped name in fourth paragraph) Nov. 2 (BusinessDesk) - Todd Communications, part of the privately owned Todd Corp, agreed to sell its 11.1 percent stake in Sky Network Television for $218 million, ending a 22-year tie up with the listed pay-TV operator controlled by BskyB as it rotates capital into new ventures. Todd Communications sold the 43.2 million shares at $5.05 apiece, a 5.8 percent discount to their trading price yesterday. The agreement is dated Nov. 1 and is expected to settle on Nov. 8, when Todd will file a notice of ce...

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