Takeovers see BskyB become Sky under new name

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BSkyB is to change its name to Sky after the pay-TV company completed the acquisition of Sky Italia and a majority interest in Sky Deutschland.

The enlarged company now serves 20 million customers following the combination of businesses in three of Europe’s four biggest markets.

Subject to the approval of shareholders at its annual general meeting next week, British Sky Broadcasting (BSkyB) will be replaced as the company’s name in order to reflect the international scope of the business.

It will also be listed on the London Stock Exchange under the symbol SKY.

The company has three sites and 1,100 employees in Leeds covering betting and gambling, digital sports media, a sales contact centre and a service contact centre. It also has a customer contact centre in Sheffield.

Chief executive Jeremy Darroch said: “The three Sky businesses will be even better together. We have the opportunity to create a business that can lead and shape our industry in the future.”

The broadcaster’s deal with 21st Century Fox, which was first announced in July, involved buying all of Sky Italia for a total of £2.45bn. It has also acquired 87.45 per cent of Sky Deutschland for £4.4bn.

The enlarged company will have a combined programme spend of £4.6bn across Italy, Germany, Austria, the UK and Ireland and employ 31,000 staff over 30 main sites.

Mr Darroch said the potential for future growth was significant as over 60 million households have yet to take pay-TV across the five markets in which Sky operates. He added: “By joining together, we will share our strengths and expertise while retaining a strong identity in each country where we operate.”