SKY FALLING IN FOR PROFITS
Sky’s boss is offloading shares in the firm worth £11.5million as the broadcaster revealed its profits had been hit by the soaring cost of Premier League football rights.
The Riviera broadcaster said Jeremy Darroch was selling 1.2 million shares earned under his long-term bonus plan. Finance chief Andrew Griffith is pocketing £6m. The move came as the group said profits had sunk 6% to £1.4bn in the year to June 30 due to weak advertising and the £629m it shelled out to keep showing top-flight football.
Revenues rose 5% to £12.9bn, helped by the addition of 250,000 new customers in the UK.