Sky Network Television Limited

Overview

The company was formed in 2005 to facilitate the merger of listed companies Sky Network Television Ltd and Independent Newspapers Ltd (which held 78.4% of Sky). Under the merger scheme, MergeCo was to acquire all of the shares in INL and all of the Sky minority shares. INL and Sky would then be amalgamated into MergeCo to create a single listed entity for the Sky business. MergeCo then would be renamed "Sky Network Television Ltd" and conduct Sky's existing and ongoing business. For each Sky share, holders received one ordinary share in MergeCo and $1.28 cash. For each INL share, holders received 0.8360 of an ordinary share in MergeCo and $1.78 cash.

SKT dervies the majority of its revenue through residential satellite subscriptions with other revenue coming from UHF subscriptions, other types of SKY subscription, installation and advertising.

Performance

The following information was extracted from Sky Network Television Limited's full year results, released 28 August 2026

Expanded Sky business delivers strong FY26 result

Sky Network Television Limited (Sky) has delivered a strong FY26 result, with Underlying Revenue of $826.1m, up 9%, and Underlying EBITDA of $157.0m, up 6% and at the higher end of guidance.

The Board has declared a full imputed final dividend of 17 cps, bringing the total FY26 dividend to 32 cps, up 45% year-on-year and 113% over three years, comfortably exceeding Sky’s target to double the FY23 dividend.

Financial Highlights

Underlying Revenue: $826.1m, up 9%, driven by the acquisition of Sky Free

Underlying EBITDA: $157.0m, up 6%, at the higher end of guidance

Statutory NPAT3 of $59.8m, up 190% and Underlying NPAT: $41.8m, up 2%

Normalised Free cash flow: $58.9m, up 60%, contributing to a closing cash balance of $79.1m

Final Dividend: 17.0cps (fully imputed), full year dividend of 32 cps (fully imputed)

Capital Management: Targeting 10% p.a. growth in dividends for the next three years, with dividends now to be paid quarterly.

Sophie Moloney, Sky Chief Executive, said: “Three years ago, we set ambitious targets reflecting our confidence in Sky and the opportunity ahead. Since then, we have navigated a challenging economic environment while completing two significant projects - the accelerated satellite migration in FY25 and the acquisition and integration of Sky Free in FY26."

“We finish this period a stronger Sky - larger, more diversified and increasingly digital, with greater audience scale and more opportunities for growth." “The benefits of the expanded business are already evident. We now reach more New Zealanders across paid and free-to-air, broadcast and digital, giving audiences more choice in how they engage with Sky, while advertisers can connect with larger and more diverse audiences through a single integrated offering.”

"With the critical building blocks now in place - including a match-fit team with a demonstrated ability to drive margin and free cash flow, long-term sports rights secured, a flexible and audience-led entertainment strategy, greater audience scale and reach, and increasingly sophisticated use of data to inform our decisions - we are turning our focus to the next phase."