BSkyB takes £100m punt on 365

BSkyB is to buy the online sports information and gaming firm 365 Media Group for £96 million, in a significant move by the broadcaster and broadband provider into online sports content and betting.

365 Media, previously called Ukbetting, runs gambling and sports websites such as Football365, Cricket365, Sportinglife and Planet Rugby.

BSkyB hopes the acquisition will complement its online sports presence and betting business, at a time when online advertising is booming and gambling is poised to benefit from deregulation.

Read the full report from Guardian Unlimited by clicking here.