Sky Media Sells SkyBet for £800 Million

Sky Media is making out like a bandit for their sale of Sky Betting and Gaming to CVC Capital, as they are getting £800 million for the company, with £600 million of that in cash.

The deal will see Sky Media still holding 20% equity in the firm, with £200 million of the total sale price being paid on a conditional basis if the brands perform up to expectations.

Sky Media is a subsidiary of Sky plc, a UK media giant that provides satellite, internet, and telephone services throughout Europe. The company is the largest media firm in Europe, with more than £7.3 billion in revenue annually.

Casino Listings will update this story as more developments arise.

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