ITV charge dents BSkyB
EmptyNew British Sky Broadcasting CEO Jeremy Darroch on Wednesday announced a loss of £6 million ($11.9 million) for the company's fiscal third quarter, compared with a profit of £142 million a year ago.
The U.K.'s biggest pay TV operator took a £131 million ($259.6 million) hit on the value of its stake in broadcaster ITV.
The impairment charge brings to £474 million the total amount Sky has written off relating to the 17.9% stake it paid £940 million for in November.
Revenue grew 8% to £1.3 billion ($2.5 billion), and net subscriber numbers were up 56,000 to 8.9 million.
In London, the company's shares closed up 0.8% at £5.45 ($10.80) as analysts broadly welcomed the results. (partialdiff)