Soccer team Manchester United (NYSE: MANU) has purchased a third of Manchester United Television from British Sky Broadcasting Group plc (LSE: BSY), giving it full control of the television network.
Manchester United Television was launched in 1998 as a joint venture, with UK broadcaster ITV and BskyB as equity partners. The channel broadcasts Manchester United-related programming in 57 countries. In 2007 Manchester bought ITV’s stake in the company. Terms of the deal were not disclosed.