Why the Sky Network (ASX:SKT) share price is marching higher today

The Sky Network Television Limited (ASX: SKT) share price has lifted 3.23% higher after the company renewed a multi-year deal with Discovery.
The post Why the Sky Network (ASX:SKT) share price is marching higher today appeared first on The Motley Fool Australia. –

man intently watching tv representing seven group share price on watch

The Sky Network Television Limited (ASX: SKT) share price is lifting today after the company announced a renewed multi-year deal with Discovery. At the time of writing, the Sky share price is up 3.2% at 16 cents. In comparison, the All Ordinaries Index (ASX: XAO) is up 0.7% to 6,915 points.

Discovery is a popular American multinational television network that provides viewers with real-life entertainment, including factual and lifestyle shows.

Renewed partnership

According to the announcement, Sky has extended its partnership with Discovery under a multi-year agreement.

Although no exact terms have been released, Sky said customers would be offered a raft of well-known programs. These include Discovery Channel, TLC, Discovery Turbo, Living, Food Network, Animal Planet, and the newly launched channel, Investigation Discovery.

In addition, Video on Demand (VOD) rights will be expanded for Sky Go, Sky On Demand, and Neon. And the Discovery Channel will be included in its starter package to attract new customers.

Furthermore, Sky said Investigation Discovery would debut in New Zealand under the entertainment package in early 2021.

What did management say?

Commenting on the partnership extension, Sky chief executive Sophie Moloney said:

We know our customers love Discovery’s premium programming, and we are delighted to continue our 26-year partnership through a renewed deal that responds to our customers’ needs and the content landscape in New Zealand.

New Zealanders are spoiled for choice when it comes to content. Our partnerships with the world’s leading content creators makes it easy for Sky customers to enjoy the best and broadest range of storytelling; all in one place. We are excited to deepen our offering of Discovery’s premium content by welcoming Investigation Discovery to New Zealand in 2021.

About the Sky share price

The Sky share price has fallen dramatically in the past 5 years. After reaching the $6 mark in 2015, the Sky share price is now swapping hands for 16 cents, a 98% wipe out of its prior value. 

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Sky Network (ASX:SKT) share price is marching higher today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!