Manchester United takes control of MUTV

Manchester United has bought a one-third minority stake in Manchester United Television from BSkyB, giving it full control of the channel.

MUTV was formed as a venture between the team, BSkyB, and ITV in 1998.

Manchester United bought ITV's one-third stake in November 2007.

"As part of its long-term digital media plans, Manchester United has made the strategic acquisition of Sky's stake in MUTV in order to own 100% of the content production and distribution capabilities of this business," the firm said in a statement.

"Since [the launch] MUTV has developed considerable in-house expertise and Manchester United bought ITV's one-third equity stake in November 2007.

"This latest acquisition is a natural progression and is indicative of the club's desire to have full control of the content generating and distribution capabilities across all of its businesses.

"Sky has been an active and highly valued partner since the channel's inception and has helped to build the best and most watched club football channel in the world.

"We will continue to have a close relationship with Sky in the future," the firm said.

The football club's shares, which are traded in New York, were up 0.65% at 15:00 GMT.

MM