News for INL

An independent valuation of pay-television company Sky is expected to go to Independent Newspapers directors in the next day or two.

INL is sitting on a big bucket of cash and a 66 per cent stake in Sky after the $1.2 billion sale of its New Zealand newspaper publishing operations to Fairfax.

One option for the company is to buy the one-third of Sky that it does not already own.

INL chairman Ken Cowley last month told shareholders the company was "considering the options around Sky", but would not be paying any excessive price or premium.