Source: MinterEllisonRuddWatts
MinterEllisonRuddWatts is pleased to have advised Warner Bros. Discovery, Inc. on the sale of its New Zealand subsidiary, Discovery NZ Limited, to Sky Network Television Limited (Sky).
The transaction, announced this week, involves the sale of 100% of the shares in Discovery NZ to Sky, with completion expected on 1 August 2025.
Discovery NZ operates the broadcast-video-on-demand (BVOD) platform ThreeNow, free-to-air channel Three, and a suite of FAST channels in New Zealand.
As part of the deal, Warner Bros. Discovery and Sky have entered into a significant and ongoing content supply agreement, ensuring continued access to premium content for New Zealand audiences.
Michael Brooks, Managing Director Australia and New Zealand for Warner Bros. Discovery commented: “This is a fantastic outcome for both Warner Bros. Discovery and Sky. While Discovery NZ is no longer commercially viable as a standalone asset in our New Zealand portfolio, we see the value Three and ThreeNow can bring to Sky’s offering. The transaction includes a content supply agreement that benefits both parties.”
MinterEllisonRuddWatts advised Warner Bros. Discovery on all legal aspects of the transaction, including deal structuring, negotiation of the share sale agreement, transitional services arrangements, employment aspects, content supply arrangements and regulatory engagement.
Corporate Partner Mark Forman who led the deal, says: “We are proud to have supported Warner Bros. Discovery in this strategic divestment. The transaction reflects our firm’s expertise in cross-border M&A and media sector transactions, and we are pleased to have helped deliver a successful outcome that creates a unique opportunity for Sky.”
The law firm’s deal team included Mark Forman, Tayla Johnston, James Marriner, Nick Stewart, Caitlin Reid, Jennifer Hambleton, Gillian Service, Joshua Kimpton, Simon Akozu, Andrew Ryan, Chris Young, Briar Richardson, David Gilbert, Tom Maasland, Sean Gollin, and Kate Lane.
MinterEllisonRuddWatts is a top tier New Zealand law firm known for providing clients with technically excellent legal solutions and innovative advice. We are trusted advisors and work alongside our clients to ensure success. We are proud to be a New Zealand law firm offering a global outlook. Our offices in Auckland and Wellington can access an international network through our firm’s strategic alliance with MinterEllison, a leading firm in the Asia-Pacific. The firm supports numerous charitable endeavours and organisations through its pro bono and fundraising initiatives.
