BSkyB Set To Buy 365

[jerryg]

BSkyB set to buy online company 365

December 15, 2006

LONDON (Reuters) - Satellite broadcaster BSkyB is in advanced talks to buy the online sports information and gaming firm 365 Media Group Plc for 94 million pounds, the Times reported on Friday.

The two companies would not comment on the report. 365 Media Group said on October 5 it had received a number of informal bid approaches.

365 Media Group, which was previously called UKbetting, runs gambling and sports Web sites including Football365 and sportlinglife.com which reach over 9 million users each month.

BSkyB owns the popular Sky Sports Web site and earlier this month announced it had agreed a tie-up with Google Inc. to deploy the Internet search company's suite of search, advertising and video functions on its broadband service.

BSkyB launched its broadband service in July and a deal to buy 365 would fit with its expansion of online content.

Shares in BSkyB were down 0.9 percent at 1 p.m. at 522.5 pence while shares in 365 were up 2.3 percent to 65 pence giving it a market value of 93 million pounds.

Shares in 365 have risen from 55.5 pence on October 5 since it revealed the bid approaches.

BSkyB is 39-percent owned by Rupert Murdoch's News Corp..

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[jetset]

365 MEDIA GROUP ACQUIRED BY SKY TV

TV broadcaster says deal will improve exposure to promote gaming and betting activities

The British television broadcaster BskyB has confirmed the conclusion of a deal through which it will acquire the 365 Media Group, until recently known as UKbetting, for a total consideration of GBP 96 million.

365 Media runs gambling and sports Web sites including Football365 and Sportlinglife.com which reach over 9 million users each month. BSkyB launched its broadband service in July and a deal to buy 365 Media is a good fit with its expansion of online content.

In a statement on the agreement, Sky said the acquisition would bring it improved exposure to the fastest growing segment of the UKs advertising market and a broader platform to promote Skys gaming and betting activities. BSkyB is 39 percent owned by Rupert Murdoch's News Corp.

365 Media recorded a 16 percent rise in gross profits for the six months to the end of June 2006 and a positive cash balance of GBP12 million for the same period.

Peter Dubens, chairman of 365 Media, said: Since the admission of 365 Media to AIM in August 2001, we have created a significant player in sports websites and online gaming. We acquired extremely good online brands in the aftermath of the dotcom crash, including websites such as Football365.com, SportingLife.com and Cricket365.com and an odds comparison website (Oddschecker.com).

"We are now one of the largest online sports networks in Europe, attracting over 9 million discerning and dedicated sports fans per month to our network of websites.

 

[Ian_go]

well the big fish are at it again, eating the little ones. These guys have all the media outlets: Myspace, TV, newspapers. When you control the channels you control the messages. ;-)

 

[jetset]

Entrepreneur does well out of deal

365 MEDIA CHIEF SCORES WITH BSKYB DEAL

Take the risk, earn the reward....

The news this week that BSkyB had paid GBP96 million for the 365 Media gambling and sports group reaped rewards not only for investors, but for the man who took the risk of building the group from a low base into an enterprise that has over 9 million regular visitors.

The UK newspaper The Daily Telegraph reports that web entrepreneur Peter Dubens is set for a GBP10 million windfall after agreeing to sell his online sports information and gaming company to the television broadcaster.

Dubens founded the group, which was previously called UKbetting, in 2001 and spent GBP1.5 million of his own money buying 14 loss-making companies whose valuations had plunged after the dotcom crash. Hard work and business expertise were needed to turn the companies around and weld them into a profitable and popular business.

365 runs gambling and sports websites including Football365 and sportlinglife.com, together with the online gambling site UKbetting.com. The latter does not take bets from US residents and has therefore been sheltered from that country's crackdown on internet gambling, unlike many of its rivals.

On announcing the agreement, Sky chief financial officer Jeremy Darroch said: "Bringing together 365 Media's extensive network of sports and gaming websites with our own Sky Sports and SkyBet businesses will allow us to reach a broader audience."

 

[jerryg]

well the big fish are at it again, eating the little ones. These guys have all the media outlets: Myspace, TV, newspapers. When you control the channels you control the messages. ;-)

They don't get much bigger than Rupert Murdoch. Isn't he the richest man in Australia?