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. Last Updated: 07/27/2016

BSkyB Acquisition

LONDON -- British satellite broadcaster British Sky Broadcasting PLC said Wednesday it had agreed an all-share offer for Sports Internet Group which values the company at around pounds 300 million ($460 million).

"This is a valuable acquisition for BSkyB because Sports Internet Group has an established infrastructure, original content, high user volumes and an exciting e-commerce potential,"said BSkyB CEO Tony Ball.

Under the terms of its bid, BSkyB is offering 0.5622 new BSkyB shares for each Sports Internet share, valuing Sports Internet at pounds 301.3 million.

On its results, BSkyB - 40 percent owned by Rupert Murdoch's News Corp. - said that after the results of joint ventures, it made a nine-month pre-tax loss of pounds 90 million compared to a profit of pounds 69 million.