Sky is a British multifaceted media company. Sky offers satellite broadcasting, broadband and telephone service, and on-demand Internet streaming. The company is headquartered in London.
In addition to operating in the United Kingdom, Sky provides its services in Italy, Austria, Germany, and Ireland. At the present time, Sky is the largest media company in Europe as well the largest pay television broadcaster throughout the region.
As of 2015, the last year a full set of data is available, Sky had over 21 million pay television subscribers. The company employed over 30,000 people.
Sky was initially formed in 1990. The company came about as the result of a merger between Sky Television and British Satellite Broadcasting. At that time, the company was called BSkyB. In the aftermath of the merger, the enterprise because the largest digital subscription television company in the United Kingdom.
Sky Becomes a Service Leader
The company adopted its current moniker, Sky, following its acquisition of Sky Italia and Sky Deutschland. Sky is part of the London Stock Exchange It is included on the FTSE 100 Index.
Sky Supports a Growing Economy
As of 2015, Sky maintained a market capitalization of about £18.75 billion or €26.76 billion. 21st Century Fox, a Rupert Murdoch company, owns a controlling interest in Sky. 21st Century Fox owns 39.14 per cent of the outstanding shares of the company.
Sky has purchased other media properties. These include Virgin Media. Sky acquired Virgin Media in 2010.
Sky Faces Potential Merger
The company has also been the target of a takeover in 2010. Rupert Murdoch’s News Corporation made a bid that year to takeover Sky. The move occurred directly before the News International telephone hacking scandal, in which reporters for a News Corporation media property were said to have hacked telephone accounts of different public figures.
This caused the collapse of the takeover attempt, as well as the resignation of Rupert Murdoch’s son from his position of chairman of Sky. It also resulted in the breakup of News Corporation and 21st Century Fox, with Fox retaining the existing ownership interest in Sky, which it maintains to this day.
Customer Support Remains Intact Over the Years
At the end of 2016, 21st Century Fox and Sky reached a deal under which Fox will acquire all remaining shares of Sky. The deal reached by the companies awaits approval by regulators. Because 21st Century Fox currently has a controlling interest in Sky, no significant changes are expected in the operation or even the management of the company if the acquisition is approved.
Call the Sky Helpline for Top Rated Customer Service
With the help of their awesome support, which you can contact via the customer services phone number, the company has run at a profit nearly every year since 1997. The last year when the company ran in the red was 2008 and before that was 2002. 2015 is the company’s most profitable year to date.
The current board of directors include James Murdoch, Rupert’s son who has held the position in the past. The board of directors has a dozen other members, including Charles Carey who is also the president and chief executive officer of Sky.
Sky Continues to Expand
At the present time, Sky has a dozen subsidiaries. In addition to media properties, the subsidiaries also include Amstrad, a British electronics enterprise.