Nine and Sky plan 24-hour business channel, free to air

Nine Entertainment is in talks with Sky News Business to create Australia’s first commercial free-to-air, 24-hour business channel.

Nine Entertainment is in talks to become a joint shareholder in Sky News Business in a deal that would create Australia’s first commercial free-to-air, 24-hour business channel.

It is understood a rebrand of Sky News Business under a new name has been on the table in recent negotiations between Nine and Sky’s parent company, News Corp Australia, publisher of The Australian.

Executives are also exploring giving Sky News Business a bigger programming focus on personal finance news and consumer issues as they seek a broader audience.

The idea is to provide money advice at a time when the banking royal commission has propelled personal finance into the mainstream.

The deal would give Sky News Business national reach for the first time, compared with about a third of all households on the Foxtel platform.

News Corp and Nine both declined to comment as executives close to the talks cautioned that both sides have yet to agree on the terms.

The new channel will occupy the digital slot currently occupied by Nine’s infomercial channel Extra. Financial terms have not been disclosed.

Sources said Nine executives believe the structure of a 50/50 joint venture would work along similar lines to the Stan streaming service, which is jointly owned and operated by Nine and publisher Fairfax Media.

For Nine, the wheel has come full circle if the deal goes ahead. Australian News Channel, which runs Sky News Business, used to be owned equally between Nine, Seven and pan-European broadcaster Sky, part of 21st Century Fox, which shares common ownership with News Corp.

It comes five years after Nine launched Financial Review Sunday, an Australian business news television program produced in partnership with Fairfax Media. The show, which was hosted by Deborah Knight and aired on Nine at 10am after Weekend Today, was cancelled after two years.

Sky News was taken over by News Corp Australia in late 2016. Following the change, Sky unveiled a new broadcast ­studio and business centre based at News Corp Australia’s headquarters in Sydney.

Last week, the main Sky News channel announced the signing of a deal with Bruce Gordon’s WIN network.

A program supply deal between Australia’s largest regional commercial network and the subscription-TV broadcaster represents an unprecedented move for 22-year-old Sky, which has never appeared on a free-to-air television network.

Called Sky News on WIN, the channel will launch at a still-to-be determined date this year in 29 markets across WIN’s ­regional network.

The new channel will offer viewers live and time-shifted program highlights from Sky News, Fox Sports News and Sky Weather.