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SJ Berwin LLP
Tuesday, January 02, 2007
SJ Berwin Advises on Recommended Offer by Sky Holdings Limited for 365 Media Group Plc
Related Document:

SJ Berwin represented 365 Media Group plc ("365 Media") in connection with the recommended cash offer by Sky Holdings Limited ("Sky") (a wholly-owned subsidiary of British Sky Broadcasting Group plc ("BSkyB") for all of the issued and to be issued shares of 365 Media. The cash offer was made on 15 December 2006 at an offer price equivalent to 68p per 365 Media share, valuing the entire issued shares of 365 Media at approximately £96 million (and approximately £103 million on a fully diluted basis). Sky has received irrevocable undertakings to accept the offer in respect of shares representing 30.7 per cent. of the issued share capital of 365 Media. 365 Media is a leading provider of sports websites and online gaming in the UK. Since its admission to AIM in August 2001, 365 Media has pursued an active acquisition strategy and now owns and operates sports websites, including Planet-Rugby.com, PlanetF1.com, Football365.com, Golf365.com, Rivals.net, SportingLife.com, TEAMtalk.com and Cricket365.com, an odds comparison website (Oddschecker.com) and four wagering websites: ukbetting.com, totalbet.com, Goldbet.com and ClubonthePark.com. BSkyB currently owns, operates and distributes 18 television channels including Sky One, Sky Sports, Sky News and Sky Movies. In addition, BSkyB currently retails 128 third party television channels and holds equity interests in a number of joint venture channels. The SJ Berwin team was led by corporate finance partner, Jonathan Djanogly, supported by senior corporate assistant Bayo Odubeko. Financial advice was provided to 365 Media by UBS and Oakley Capital Partners LLP. BSkyB was advised by Herbert Smith corporate finance partner Stephen Wilkinson.

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