Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  SKY PLC    SKY   GB0001411924


Delayed Quote. Delayed  - 10/26 05:02:08 pm
800.5 GBp   -0.87%
10/25 DIRECTOR DEALIN : Sky Non-Executive Director Ups Interest
10/24 FTSE ends lower as commodities stocks slip
10/24 POPE ART : Sky celebrates launch of The Young Pope by unveiling 3D h..
News SummaryMost relevantAll newsSector news 

BSkyB Defends Track Record

share with twitter share with LinkedIn share with facebook
share via e-mail
05/02/2012 | 11:24am CEST

By Lilly Vitorovich


British Sky Broadcasting Group PLC (>> British Sky Broadcasting Group plc) said Wednesday its "strong" track record as a U.K. broadcaster should be the key factor in determining its fitness to hold a broadcasting license, a day after scathing criticism from U.K. lawmakers of News Corp. (NWS), which has a 39% stake in BSkyB, in a report on the tabloid phone-hacking scandal.

U.K. communications regulator Ofcom said last month it is looking into whether BSkyB should continue to hold a U.K. broadcasting license amid a broader investigation into journalism standards.

"The company is engaging with Ofcom in this process and continues to believe that it remains a fit and proper license holder," BSkyB said.

Chief Executive Jeremy Darroch said there was no timetable for Ofcom's investigation into whether News Corp. is a suitable owner of BSkyB, but that the company will stay in contact with the regulator.

"It's important to remember that Sky and News Corporation are separate companies," Mr. Darroch told reporters on the company's earnings call. "We believe that Sky's track record as a broadcaster is the most important factor in determining our fitness to hold a license."

Earlier Wednesday, the pay-TV operator posted an increase in revenue and profit for the nine months ended March 31, driven by new customers and demand for its broadband and phone products, and said its Internet streaming service, Now TV, is on track to launch in the first half of 2012.

BSkyB-which counts Virgin Media Inc. and BT Group PLC's BT Vision as its two biggest competitors-booked a 19% increase in net profit to GBP689 million ($1.12 billion) for the nine months ended March 31 from GBP581 million a year earlier, helped by higher revenue and a break fee from News Corp. for its failed takeover.

Operating profit before exceptional items, a measurement of how the main business is performing, rose 15% to GBP908 million for the nine months ended March 31, slightly above market expectations of GBP902 million. That compares with GBP790 million over the same period a year earlier.

BSkyB added 326,000 new customers in the nine months, up 3.2% from a year earlier, taking its total subscriber base to 10.6 million.

While the company didn't provide third-quarter financial numbers, it did release some operational indicators. The group signed 78,000 new customers in the third quarter.

Revenue rose 5.1% to GBP5.08 billion in the nine months to March 31 from GBP4.83 billion, in line with market expectations. Average revenue per customer rose 1.7% to GBP546.

News Corp.'s bid to take full control of BSkyB collapsed last July following revelations of phone hacking at the now-defunct News Corp. tabloid News of the World. News Corp.'s 39.1% stake makes it BSkyB's biggest shareholder. News Corp. also owns Dow Jones & Co., publisher of The Wall Street Journal.

In a statement Tuesday, News Corp. said: "Hard truths have emerged from the Select Committee Report: that there was serious wrongdoing at the News of the World; that our response to the wrongdoing was too slow and too defensive; and that some of our employees misled the Select Committee in 2009." But it called some of the report's commentary "unjustified and highly partisan."

BSkyB is highly cash generative because of its large number of customers lured by its live coverage of the English Premier League soccer and new movies. But customer growth is starting to slow as competition heats up in a tough economic environment. As a result, management are focused on getting existing customers to take more of their products, such as high definition TV and 3-D.

The stock has fallen 18% over the past 12 months on concerns over the Ofcom investigation and the potential extra cost of extending its rights to broadcast live coverage of the bulk of the English Premier League soccer matches, a core offering on its pay-TV channels that it can't afford to cede to rivals. The result of an auction for the rights over the next three years is expected in June.

-By Steve McGrath, Dow Jones Newswires; 44-20-7842-9284; steve.mcgrath@dowjones.com

Stocks mentioned in the article : British Sky Broadcasting Group plc
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on SKY PLC
10/25 DIRECTOR DEALINGS : Sky Non-Executive Director Ups Interest
10/24 FTSE ends lower as commodities stocks slip
10/24 POPE ART : Sky celebrates launch of The Young Pope by unveiling 3D hanging sculp..
10/20DJSKY : Flags Varied Trading, but Upbeat on Fortunes
10/20 PROSIEBENSAT 1 MEDIA : Pluto (Pluto TV) Raises USD30 Million in Series B Funding
10/19 BT sees strong case for network investment if it stays intact
10/18 SKY : Q launches mobile app making it easier for customers to take their recordi..
10/14 SKY : *deutsche bank cuts sky plc price target to 1380 pence - 'buy'
10/14 SKY : *hsbc raises sky plc price target to 820 (800) pence - 'hold'
10/14 SKY : Independent Sky Shareholders Rebel Against Chairman James Murdoch
More news
Sector news : Broadcasting - NEC
04:41p Comcast posts higher revenue, helped by Rio Olympics
10/25DJVIACOM : Sumner Redstone Suing Former Companions
10/25DJVIACOM : Sumner Redstone Suing Former Companions
10/25 T-Mobile seen as top target following AT&T-Time Warner deal
10/24 FTSE ends lower as commodities stocks slip
More sector news : Broadcasting - NEC
News from SeekingAlpha
10/20 SKY : Is Nervousness Regarding Europe's Largest Digital Television Company Deser..
10/13 Murdoch confirmed as Sky chairman despite 30% opposition
10/13 Sky Plc (SKYAY) Q1 2017 Results - Earnings Call Transcript
10/13 Sky Plc reports FQ1 results
10/03 Invesco International Growth Fund A (AIIEX) September Summary
Financials ( GBP)
Sales 2017 13 038 M
EBIT 2017 1 450 M
Net income 2017 897 M
Debt 2017 6 176 M
Yield 2017 4,24%
P/E ratio 2017 14,87
P/E ratio 2018 11,82
EV / Sales 2017 1,54x
EV / Sales 2018 1,43x
Capitalization 13 881 M
More Financials
Duration : Period :
SKY PLC Technical Analysis Chart | SKY | GB0001411924 | 4-Traders
Full-screen chart
Technical analysis trends SKY PLC
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus HOLD
Number of Analysts 25
Average target price 10,3  GBP
Spread / Average Target 28%
Consensus details
EPS Revisions
More Estimates Revisions
David Jeremy Darroch Chief Executive Officer & Executive Director
James Rupert Murdoch Chairman
Andrew John Griffith Chief Operating & Financial Officer, Director
Didier Lebrat Chief Technology Officer
Martin James Gilbert Deputy Chairman
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
SKY PLC-27.38%16 882
WALT DISNEY CO-11.73%149 059
More Results