BSkyB to Become Sky After Buyout in Italy & Germany

BSkyB will be rebranded as Sky after the UK satellite broadcasting company announced the acquisition of Sky Italia in Italy and Sky Deutschland in Germany and Austria.

The buyout of its sister companies is believed to have cost the company £6.88 billion.

Sky currently generates revenues of £11 billion, adiposity with 20 million customers in the UK, Italy, Germany and Austria.

The words “British” and “Broadcasting” are being scrapped from the name as the company expands into Europe and into a multimedia content company.

The name change will still need to be approved by shareholders at the Annual General Meeting on 21 November.

“The three Sky businesses will be even better together,” said Jeremy Darroch, chief executive of BSkyB who steps up to run the enlarged group.

“By joining together, we will share our strengths and expertise while retaining a strong identity in each country where we operate. The opportunity ahead is substantial and we believe the new Sky will be good for customers, content creators and shareholders alike.

“Customers will benefit as we launch exciting new services, bring them even more great TV and accelerate innovation across all of the markets in which we operate.”