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BSkyB set to buy online company 365

December 15, 2006

LONDON (Reuters) - 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.

BSkyB is 39-percent owned by Rupert Murdoch's News Corp..

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