The big beneficiaries are current Sears shareholders, who were given subscription rights that allowed them to buy 0.21 of a share at 15 per whole share.

FORBES: Time To Take A Closer Look At Sears' Bedraggled Stock As A Credible Turnaround Bet

In addition to the launch of the new channel, the agreement gives Sky Movies the first subscription pay TV movie rights in the UK and Ireland to other titles distributed by Disney, including new movies from Lucasfilm, and also Marvel Studios features such as Iron Man 3 and Avengers Assemble, which will be broadcast across the Sky Movies portfolio of channels.

ENGADGET: Sky cuts a deal with Disney for exclusive access, launches Sky Movies Disney

As Sky's subscription base grew, programmers and rights holders knew that distribution meant dealing with Sky.

ECONOMIST: Digital television