By Tess Stynes
Manchester United Ltd. (MANU) acquired a one-third minority
stake in Manchester United Television from British Sky Broadcasting
Group PLC (BSY.LN), part of the soccer team's goal of gaining
complete ownership of the content production and distribution
capabilities of the unit.
Financial terms weren't disclosed.
Manchester United Television was formed as a venture between the
team, BskyB, and ITV PLC (ITVPF, ITV.LN, ITV.TH) in 1998.
Manchester United acquired ITV's one-third stake in November of
2007.
BSkyB is 39% owned by News Corp. (NWSA, NWS.AU, NWS), owner of
The Wall Street Journal and this newswire.
Manchester United shares closed Friday at $15.50 and were
inactive premarket. Markets were closed Monday for the Martin
Luther King Jr., holiday.
Write to Tess Stynes at Tess.Stynes@dowjones.com
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