In a move set to reshape New Zealand’s media industry, Sky New Zealand has announced it will acquire 100 per cent of Discovery NZ Limited, the local subsidiary of Warner Bros. Discovery (WBD). The deal includes key free-to-air assets such as Three, ThreeNow, eden, Rush, and HGTV, strengthening Sky’s portfolio in both broadcast and digital media.
The acquisition, set to be completed on 1 August 2025, comes amid increasing pressure on traditional broadcasters in New Zealand, with the sector facing declining advertising revenue, growing competition from global streaming giants, and the recent collapse of the government-funded public media merger.
Sky will acquire Discovery NZ on a cash-free, debt-free basis for $1, and the agreement includes a multi-year deal for continued access to WBD’s premium content. WBD will retain ownership of its Pay TV channels, HBO Max, and Warner Bros. International Television Production NZ.
Sky CEO Sophie Moloney called the deal a “future-focused step” that will help the company scale faster, grow advertising revenue, and expand its reach across both subscription and free platforms. “We see strong value in ThreeNow’s high-quality BVOD platform, and Three’s mass reach,” she said.
WBD’s regional managing director Michael Brooks acknowledged the difficulties facing New Zealand media and said the sale followed a significant restructure of Discovery NZ in 2024. “While this business is not commercially viable as a standalone asset in the WBD portfolio, we see the value it brings to Sky’s offering,” Brooks said.
The move gives Sky a much-needed foothold in the free-to-air and digital streaming markets, sectors where it has lagged behind in recent years. With the integration of Discovery NZ’s experienced team—who will continue under current leadership—Sky is positioning itself to become a dominant, multi-platform media company in Aotearoa.
The Commerce Commission has been briefed and does not intend to investigate the acquisition further. Sky says there are no immediate plans to alter programming on any Discovery NZ channels.
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