Latest / Best of Business / Sophie Moloney: Sky TV chief executive on the company buying out TV3 for $1

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Sophie Moloney: Sky TV chief executive on the company buying out TV3 for $1 · Best of Business

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  Speaker 1: You're listening to a podcast from news Talk st B.
• 0:12
  Speaker 1: Follow this and our Wide Ranger podcast now on iHeartRadio.
• 0:17
  Speaker 2: Afternoon. We have got another one dollar deal. Sky TV
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  Speaker 2: is buying TV three from Warner Brothers Discovery for a
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  Speaker 2: single dollar. It will take on none of TV three's debt.
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  Speaker 2: Now the investors are loving it. Shares and sky TV
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  Speaker 2: are up more than five percent today the move. It
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  Speaker 2: gives sky TV a huge free to air platform and
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  Speaker 2: will undoubtedly put pressure on TV and Z. Sophie Maloney
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  Speaker 2: is the boss of sky TV. Hi, Sophie, you gotta
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  Speaker 2: hear that.
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  Speaker 3: How are you doing well? Thank you?
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  Speaker 2: Have you cracked a champagne yet?
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  Speaker 3: No? I haven't.
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  Speaker 4: These are very important discussion, So but thrilled to be
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  Speaker 4: with you and share this exciting news.
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  Speaker 2: This is a bargain, I mean, have you got the
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  Speaker 2: bargain of the year.
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  Speaker 4: Look, we worked hard with Warner Brothers Discovery to get
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  Speaker 4: to a very good place here and we're absolutely thrilled
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  Speaker 4: about welcoming the Discovery New Zealand team and to the
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  Speaker 4: wider Sky business. So yeah, it's a great opportunity for
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  Speaker 4: us that we're uniquely placed to go after.
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  Speaker 2: So are you going to shut down Sky Open the channel.
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  Speaker 4: No, not at this where we're definitely just continuing business
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  Speaker 4: as usual. We've got a full transition plan to step through.
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  Speaker 4: You know, we don't actually complete until the first of August,
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  Speaker 4: and so there's absolute continuity of content and delivery across
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  Speaker 4: all of the channels and no change in the near future.
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  Speaker 4: In time, of course, we'll have a look across all
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  Speaker 4: of it and see what's the best way.
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  Speaker 3: To deliver for all of New Zealand.
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  Speaker 4: But as things stand, absolutely no change and we're excited
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  Speaker 4: about the offering on Sky Open right.
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  Speaker 2: But this is obviously this is the platform where you
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  Speaker 2: put your free to air content, well, once you've monetized
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  Speaker 2: it and got all the money you can out of
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  Speaker 2: it behind the paywall of Neon and Sky TV, surely
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  Speaker 2: this is where you put it. For the advertising.
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  Speaker 4: Well, I think there's actually different audiences and different content
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  Speaker 4: that resonates across free and pay And as you say, though,
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  Speaker 4: this does give us an awesome opportunity to deliver right
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  Speaker 4: across the piece and we're really excited. You know, three
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  Speaker 4: has an amazing history and three now it was the
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  Speaker 4: missing platform from our go to market from an advertising perspective.
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  Speaker 4: So that's a very exciting part of the deal for us,
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  Speaker 4: and it's got a mass of diverse audience from what
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  Speaker 4: we have on the skyside.
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  Speaker 2: Okay, So does this basically mean that TV and Z
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  Speaker 2: is no longer an option when it comes to sports negotiations,
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  Speaker 2: You guys are the only game in town because you've
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  Speaker 2: got the existing infrastructure of SkyTV. You can broadcast it,
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  Speaker 2: you can do all of that hard work, but you've
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  Speaker 2: also got the free to air platform now in TV three.
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  Speaker 3: No. Look, I don't think it's the end of that
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  Speaker 3: at all.
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  Speaker 4: I think TVNZ's a super important player in the market.
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  Speaker 4: They're still the juggernaut in terms of advertising revenue share,
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  Speaker 4: and you know, ultimately hither it is about the sports
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  Speaker 4: partners and where they want to be showcasing their content
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  Speaker 4: and it still needs to make financial sense, right, So
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  Speaker 4: I think it's actually really important for the local media
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  Speaker 4: ecosystem that you do have two vibrant opportunities for sport
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  Speaker 4: partners and beyond.
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  Speaker 2: Is this why the rugby broadcast deal in the netball
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  Speaker 2: broadcast deal has not been tidied up and finished by
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  Speaker 2: the time we all thought they were going to be
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  Speaker 2: Because you guys were waiting for the steal.
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  Speaker 3: No, not at all. This is unrelated.
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  Speaker 4: This deal has been worked on for a long time.
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  Speaker 4: It came to fruition finally last night and is unconnected
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  Speaker 4: to both of those arrangements.
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  Speaker 2: Are you going to keep the news at six on
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  Speaker 2: TV three?
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  Speaker 3: Again?
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  Speaker 4: Absolutely no change. So yeah, we're going to be keeping
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  Speaker 4: the news at six EMM. We're excited about that partnership
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  Speaker 4: with stuff going forward, you know, once it's completes from
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  Speaker 4: the first of August.
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  Speaker 2: How long has that deal got to run between TV
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  Speaker 2: three and and don't hear.
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  Speaker 3: That confidential information. But there's a decent period to run,
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  Speaker 3: which is great.
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  Speaker 2: What's a decent period? Are we all years or months?
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  Speaker 4: Because yeah, yeah, longer than months, Heather, longer than months, okay.
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  Speaker 2: Because because you're going to have to cut it right.
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  Speaker 1: It is.
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  Speaker 2: It is expensive and it is not delivering, is it.
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  Speaker 3: Oh? I don't.
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  Speaker 4: I wouldn't say that at all. In fact, I think
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  Speaker 4: that the team have done a remarkable job. And we
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  Speaker 4: know news is super important, right you were talking about
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  Speaker 4: that earlier, that we've got to make sure we've got
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  Speaker 4: news coverage.
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  Speaker 3: Speaking the word decent.
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  Speaker 4: So absolutely no change to the delivery of three News
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  Speaker 4: in the partnership with Stuff, and I think it's a
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  Speaker 4: really important aspect of this deal that we do continue
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  Speaker 4: to see news thriving. Doesn't mean we're going to go
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  Speaker 4: created ourselves, by the way, it's really important that we
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  Speaker 4: partner with local news providers who've got all the infrastructure
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  Speaker 4: and talent, so you need never know whither. Maybe there'll
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  Speaker 4: be an opportunity for you.
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  Speaker 2: Listen to this. Okay, listen, are you gonna Are you
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  Speaker 2: going to crack if you haven't cracked a champagne yet,
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  Speaker 2: are you going to crack a champagne tonight?
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  Speaker 3: We are definitely going to have a champagne.
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  Speaker 4: As a team, They've worked incredibly hard to get to
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  Speaker 4: this place, so yeah, it's a thrilling place to be.
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  Speaker 2: Good stuff. Enjoy it very much, Sophie. Thank you, Sophie Maloney,
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  Speaker 2: Chief Executive sky TV.
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