Sky buys further into Shine

David Allen -

BSkyB is on the verge of increasing its stake in Shine, the TV producer behind Ashes to Ashes and Masterchef, following Sony’s plans to pull out of the business.

Shine was founded by Rupert Murdoch’s daughter Elisabeth in 2001, after she left Sky TV to branch out on her own.

Sony bought into Shine with a stake of £5 million in 2005.

This 21 per cent holding is now expected to be purchased by BSkyB for around £69 million, which will value the company at around £350 million.

It turns out that News Corp already owns 39 per cent of Shine and following the deal with Sony, BSkyB will have increased its holding in Shine to 20 per cent, making for a complicated mix of family and business interests.

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