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.
The team bought the remaining stake so it could control 100 percent of the content production and distribution capabilities of the business.
The television channel is based in Manchester, England.