Complex sentence: In 2001 SBS Broadcasting B.V., then the Dutch branch of the SBS Broadcasting Group, bought Fox channel from the News Corporation and renamed it into "V8" on 1 May 2001 in anticipation of "Veronica".
Split into simpler sentences: In 2001 SBS Broadcasting B.V., then the Dutch branch of the SBS Broadcasting Group, bought the channel from the News Corporation. SBS, having bought Fox from News Corporation, renamed it into "V8" on 1 May 2001 in anticipation of "Veronica".