Sky confirmed as exclusive home of Max through expanded WBD

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22 October 2024
Sky confirmed as exclusive home of Max through expanded WBD partnership

Sky Network Television (Sky) and Warner Bros. Discovery (WBD) today announce a partnership
expansion that confirms Sky as the exclusive home of Max in New Zealand, bringing an extensive
content collection to Sky and Neon customers from 30 October 2024.

The new Max branded hub on Sky and Neon will offer an unrivalled array of world-renowned series,
Hollywood blockbuster movies, and family favourites, as well as a deep library of quality programming
across lifestyle, reality, and documentaries. In addition, Sky’s SoHo channel, which has been the home
of HBO’s content on Sky for many years, will be rebranded HBO, exclusively showing HBO Original
content.

Sophie Moloney, Sky Chief Executive said: “We have a long-standing partnership with Warner Bros.
Discovery, so I’m thrilled that instead of launching direct-to-consumer in this market, WBD will work
with Sky to bring New Zealanders exclusive access to Max, a brand that has become synonymous with
great entertainment. Across our variety of platforms, Sky and Neon customers will enjoy premium
content and brands, including Max and HBO Originals as well as WBD’s classic franchises and a deep
library of much-loved titles.”

“Sky’s entertainment offering is going from strength to strength, with this agreement adding to our
recently expanded BBC partnership as we deliver the best of international content alongside our
increasingly strong Sky Originals slate of quality local content.”

“This strategically significant agreement also delivers for our investors, having been secured on
improved commercial terms, aligned to our stated targets.”

The nature and timing of the new agreement will see Sky recognising a one-off, non-cash
acceleration of programming amortisation of $6 - $7m, and, at the same time, Sky will receive a cash
payment of $4 - $5m from WBD for prepaid content at the 30 October 2024 launch date. This
agreement will generate a Free Cash Flow upside in H1 FY25, with the finalised financial impacts to
be flowed through at the Half Year.


Authorised by: Kirstin Jones, Company Secretary
Investor queries to: Media queries to:
Amanda West Karina Healy
Investor Relations Head of Corporate Communications
Amanda.West@sky.co.nz Karina.Healy@sky.co.nz
+ 64 21 043 9674 +64 21 085 08077