BSkyB is to officially change its name to Sky following the acquisitions of Sky Italia and a majority stake in Sky Deutschland, subject to shareholder approval at its AGM on November 21. The move will reflect the international nature of its business, serving 20 million customers in five countries.
According to the company, group chief executive Jeremy Darroch will oversee the enlarged group, as well as continue to lead the UK and Ireland business, while Andrew Griffith will be group chief financial officer.
Andrea Zappia will continue to lead the business in Italy as chief executive of Sky Italia and Brian Sullivan will remain chief executive of Sky Deutschland AG.
With a combined programme spend of £4.6 billion, Sky is Europe’s leading investor in TV content.
It sees the potential for future growth as significant, given that over 60 million homes in the five markets it serves (UK, Ireland, Germany, Italy and Austria) do not yet receive pay-TV services.
It also believes there is “substantial opportunity to launch new services and bring additional products to more customers”.
According to Jeremy Darroch, “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. 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.
“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.”
Sky will be listed on the London Stock Exchange under the symbol SKY from tomorrow (November 14).
