SKY Network Television (ASX:SKT, NZE:SKT) confirmed the completion of its acquisition of 100% of the shares in Discovery NZ for NZ$1 on a cash-free, debt-free basis, according to Friday filings with the Australian and New Zealand bourses.

Sky said it provided a presentation that reconciles Sky's due diligence analysis of Discovery NZ's reported result for 2024 with the expected financial performance of the continuing operations immediately following the acquisition, which narrows the reported earnings before interest, taxes, depreciation, and amortisation loss to a pro forma NZ$9 million EBITDA loss.

Content rights acquired at completion, clear of payables, reducing net working capital requirements in the first 12 to 18 months.