Sky Network (ASX:SKT) end takeover talks with Mediaworks

Sky Network Television (ASX:SKT) has ended talks with Mediaworks after confirming rumours last week of its potential takeover of the radio and out of home advertising business.

Sky will update shareholders on its capital management plan no later than the time of the Company’s Full Year Results announcement on 25 August this year.

The company said that they are committed to returning its regular dividend payment, having returned to revenue growth and achieving sustainable levels of free cash flow.

Shares closed 1.5 per cent higher to $2.03 yesterday.