British TV group BSkyB posts net loss
AFP, April, 2008
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LONDON (AFP) — British pay-TV giant BSkyB said Wednesday it suffered a net loss during the third quarter of its financial year, hit by writedowns linked to its stake in broadcaster ITV.
BSkyB said it made a loss after tax of 6.0 million pounds (7.6 million euros, 11.8 million dollars) in the three months to March, compared with a profit of 142 million pounds during the same quarter in 2007.
The satellite television provider, whose biggest shareholder is Rupert Murdoch's News Corp, said its results "reflect a further impairment charge of 131 million pounds relating to the group's investment in ITV".
BSkyB added that losses linked to its ITV stake in the nine months to March stood at 474 million pounds.
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Revenue meanwhile increased 7.96 percent to 1.25 billion pounds as it added 56,000 new customers to bring total subscribers to 8.9 million. ...
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