Ris­ing foot­ball costs hit Sky TV prof­its

The New Age (Gauteng) - - BUSINESS -

EURO­PEAN pay TV gi­ant Sky, set for a takeover by 21st Cen­tury Fox, an­nounced yes­ter­day a drop in prof­its, hit by the ris­ing costs of show­ing live English Pre­mier League foot­ball.

A fall in op­er­at­ing prof­its for the first nine months of Sky’s fi­nan­cial year over­shad­owed a rise in rev­enues, the com­pany said as it an­nounced also a tie­up with HBO re­gard­ing new tele­vi­sion drama se­ries.

Op­er­at­ing profit dropped 11% to around £1bn (R17bn) as Sky was hit by ad­di­tional costs of £494m linked to screen­ing live Pre­mier League matches fea­tur­ing sides in­clud­ing Manch­ester United, Liver­pool, Ar­se­nal and Le­ices­ter. Sky said it had added 106 000 new cus­tomers in its third quar­ter, or three months to the end of March. – AFP

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