Sky is a satellite broadcasting company based in the United Kingdom. In addition to satellite broadcasting, the company is also involved in broadband services, telephone services, and on-demand internet streaming media. The company’s headquarters are in London.
The company is the largest media company and pay television enterprise in Europe. The company has operations not only in the United Kingdom, but also Italy, Austria, Germany, and Ireland.
As of 2015, the company had 21 million subscribers. In addition, the company had 30,000 employees at that juncture in time as well. This is the last year a full set of statistical data is available regarding the company.
Sky originally came into existence as the result of the merger of two independent companies. The merger occurred in 1990. At that time, the company was called BSkyB. With the creation of the new enterprise following the merger, the company was the largest digital subscription television company in the United Kingdom.
The company completed more mergers and acquisitions through 2014, including with media properties in Italy and Germany. It was after the 2014 acquisitions that the company became known by its current moniker.
The company is listed on the London stock exchange. It is also part of the FTSE 100 Index.
By 2015, the company has a market capitalization of about £18.75 billion 0 €26.76 billion. The largest shareholder in the enterprise is Rupert Murdoch’s 21st Century Fox. That company owns a 39.14 per cent controlling interest in the enterprise.
The company is governed by a board of directors with 13 members. James Murdoch, son of Rupert Murdoch, is the current chairman of the board of directors.
The company has operated at a profit the vast majority of the years it has been in existence. The company has enjoyed steadily increasing revenues over the same time period as well. It’s revenue in 2016 was almost £12 billion.
The company operates over a dozen subsidiaries in different countries throughout Europe. It is also involved in over a half dozen joint ventures with other countries across Europe and in Australia.
In December 2016, 21st Century Fox, with its controlling interest in the company, announced its intent to fully take over Sky. 21st Century Fox proposed to take over the company for £11.7 billion or £10.75 per outstanding share.
This represents the second time Fox made a move to fully acquire the company. The first time the acquisition was actually initiated by News Corporation, of which 21st Century Fox was a part of at the time. The proposed acquisition derailed because of the News International phone hacking scandal, which erupted while the acquisition was being negotiated.
The parties reached an agreement on December 15, 2016, in regard to 21st Century Fox’s acquisition of the company. The deal is awaiting regulatory approval. Feel free to contact their helpline on this page http://www.ukcontactnumbers.org.uk/sky-customer-service/.
Because 21st Century Fox had a controlling interest in the company before the proposed acquisition, no major changes are expected when the deal is concluded. This includes James Murdoch remaining on board as the chairman of the board of directors of the company.