Wednesday 25 April 2018

BSkyB third-quarter profit climbs on HD users

Jonathan Browning

British Sky Broadcasting has said third-quarter operating profit rose 3pc as it added subscribers to its high-definition TV service.

Operating profit rose to £244m (€280m) from £237m a year earlier, the company said today in a statement.

The company added 62,000 net new customers in the period, and a net 428,000 of its customers signed up for high-definition services.

“Today’s results show that our financial performance is accelerating as we move through our investment in broadband and HD,” Chief Executive Officer Jeremy Darroch said in the statement.

BSkyB, controlled by Rupert Murdoch’s News Corp, is preparing to appeal a ruling by the UK regulator Ofcom that it must offer its two premium sports channels at a discount to competitors including Virgin Media Inc.

The broadcaster should offer its package of sports channels to cable operators at prices that are 10.5pc lower than the current wholesale price, Ofcom said last month.

Virgin Media and BT filed a complaint in January 2007 saying BSkyB’s control of film and TV rights creates a “vicious circle” that hurts competition and keeps prices high.

BSkyB is seeking to halt Ofcom’s ruling until a full appeal can be heard.


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