Sky New Zealand will acquire 100% of Discovery NZ—owner of free-to-air channels Three, ThreeNow, eden, Rush, and HGTV—in a deal announced today by Sky and Warner Bros. Discovery.

The price? Just $1, on a cash-free, debt-free basis.

The deal includes a multi-year agreement to keep premium WBD content flowing and is expected to settle on 1 August 2025.

Warner Bros. Discovery will retain HBO Max, its Pay TV channels, and its local production arm.

For Coasties, that means Three and ThreeNow aren’t going anywhere—and could even get better.

Sky CEO Sophie Moloney called the move a “win for growth,” saying the acquisition will fast-track Sky’s digital strategy and advertising reach.

She also confirmed no immediate changes to content, and that the Discovery NZ team will be welcomed into Sky.

Warner Bros. Discovery described the transaction as a logical next step, noting that while the channel group was no longer viable on its own, it still holds real value when combined with Sky’s offering.

The Commerce Commission has reviewed the commercial aspects and confirmed it won’t investigate further.

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