Sunday, December 17, 2006

Satellite broadcaster BSkyB is in advanced talks to buy the online sports
information and gaming firm 365 Media Group Plc for 94 million pounds, the
Times reported on Friday. The two companies would not comment on the report.
365 Media Group said on October 5 it had received a number of informal bid
approaches. 365 Media Group, which was previously called UKbetting, runs
gambling and sports Web sites including Football365 and sportlinglife.com
which reach over 9 million users each month. BSkyB owns the popular Sky
Sports Web site and earlier this month announced it had agreed a tie-up with
Google Inc. to deploy the Internet search company's suite of search,
advertising and video functions on its broadband service. BSkyB launched its
broadband service in July and a deal to buy 365 would fit with its expansion
of online content. Shares in BSkyB were down 0.9 percent at 1 p.m. at 522.5
pence while shares in 365 were up 2.3 percent to 65 pence giving it a market
value of 93 million pounds. Shares in 365 have risen from 55.5 pence on
October 5 since it revealed the bid approaches.