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Last Updated: Wednesday, 6 February 2008, 07:58 GMT
ITV stake drags on BSkyB profits
Satellite dish
BSkyB has made a huge loss on its investment in ITV
BSkyB made a loss in the first half of its financial year after losing money on its investment in ITV.

It lost 112m over the six months to the end of December, including a 343m charge related to its ITV stake.

Last week BSkyB was told that it would have to reduce that holding by more than half to 7.5%.

Meanwhile, BskyB said it signed up 167,000 subscribers in the final three months of 2007, and 260,000 new internet broadband customers.

"Good progress"

The broadcaster also reduced the rate at which customers dropped their subscriptions.

The so called "churn rate" fell to 10% over the six month period.

Operating profits fell 25% to 295m in the first half as the company spent more on marketing and programming.

"We have made good progress during the quarter," new chief executive Jeremy Darroch.

"We enter calendar year 2008 in good shape."



SEE ALSO
BSkyB 'should sell shares in ITV'
20 Dec 07 |  Business
BSkyB to hear ITV stake verdict
19 Dec 07 |  Business
BSkyB criticised over ITV stake
02 Oct 07 |  Business
News focus over BSkyB-ITV probe
09 Jul 07 |  Business
Watchdog to probe BSkyB ITV stake
24 May 07 |  Business
BSkyB's ITV move 'needs probing'
27 Apr 07 |  Business

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