Sky reports half-year earnings growth despite costs related to Fox takeover bid

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Sky has said it will make a further announcement "as and when appropriate".

Rupert Murdoch owns the Sun, The Times and a 39% stake in Sky in the UK. The number of customers leaving Sky dropped from 11.6 per cent to 11.2 per cent year-on-year.

The results come two days after the UK's competition regulatory ruled that Fox's bid to buy the 61% of Sky it does not already own was not in the public interest.

Exploring growth opportunities should help increase both revenue and profits, Sky said.

Speaking on Sky's quarterly earnings call, CEO Jeremy Darroch described the move as a "major development" for the company that will "open up headroom in existing markets for some customer segments". The results come after earlier this week the United Kingdom competition watchdog ruled that 21st Century Fox's bid for the London-listed company was not in the public interest.

The regulator is set to send its final probe report to UK Secretary of State for Digital, Culture, Media & Sport Karen Bradley by May 1. We recently launched Sky Q in Italy and will roll out the service to Germany and Austria in the next six months. The company has also reported a 5 per cent increase in like-for-like revenue to £6.7 billion, and now boasts 22.9 million subscribers.

With younger users used to the convenience and cost of cheaper streaming-only services, and the fact that younger generations are increasingly relying on rental properties where the installation of a satellite may not be permitted, the news has the potential to massively expand Sky's user base.

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Sky's new broadband TV service will launch in the United Kingdom in 2019What is Sky Q and what is the new broadband streaming service all about?

Sky wants to drop the need for satellite dishes, allowing customers to stream its premium television channels over an internet connection.

"We are very much focused in the process with the (regulator) CMA", he told reporters.

Last year Sky announced that it would be making its full platform available without a dish and now we're finally hearing more details about it.

The service comes with a brand new interface and TV guide, new touchpad remote and brand new features including Apple AirPlay, Bluetooth and apps like YouTube.

In December 2016, 21st Century Fox made a takeover approach and Sky's independent directors reached an agreement on a price of £10.75 per share, to be paid in cash.

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