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BSkyB snaps up rest of WapTV

LONDON - BSkyB has bought the 5% stake in WapTV, the company which created the internet-based Wap/WML browser for the Sky Digital platform, that it did not already own.

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BSkyB, which is 37.5% owned by News Corporation, will make an initial payment to the founders of WapTV in 169,375 new BSkyB shares.

The second payment will be met by a further 169,375 new BSkyB shares, which will be issued on June 30 next year. The deal will be completed on September 30 2003 with the issue of 338,775 new BSkyB shares.

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