LONDON--British broadcasting companies Sky PLC (SKY.LN) and Channel 4 have jointly invested in a online television rights platform The RightsXchange Ltd.

Dial Square 86 Ltd., the holding company for RightsXchange, said Thursday that Sky and Channel 4's Indie Growth Fund have invested in the company's latest financing round, which will raise up to 5.2 million pounds ($6.88 million) for RightsXchange.

RightsXchange is a online deal-making tool that enables television rights buyers and sellers from around the world to connect and complete licensing deals online.

Sky and Channel 4 will each take an undisclosed minority stake in Dial Square. No financial details of the deal were disclosed.

Shares of Sky at 1454 GMT trading 0.1% higher at 888 pence.

Write to Tapan Panchal at tapan.panchal@wsj.com

(END) Dow Jones Newswires

August 11, 2016 11:13 ET (15:13 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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