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Premiere drops 28,000 subscribers
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Thumbs up Premiere drops 28,000 subscribers - 14-May-2009, 11:40

Premiere drops 28,000 subscribers

By Julian Clover | May 14, 2009 | 10:09 UK

German pay-TV platform Premiere has said it expects to reverse its decline in subscriber numbers in the second half of 2009.

The satcaster announced increased first quarter losses of 80 million, compared to 28.1m in Q1 2009. Premiere lost 28,000 subscribers on the quarter, falling to 2,371,000, though ARPU was up by almost 1 at 23.86m. The churn rate was also slightly improved, albeit at the heights of 22.4%.

Our Q1 results are in line with our expectations. We expect subscriber growth to commence only in the second half of this year following our comprehensive sales, marketing and customer service initiatives, said Premiere CEO Mark Williams. He said a return to profitability was not expected until 2011.

Premiere confirmed it would take the name Sky Deutschland.

Pietro Maranzana has been appointed as chief financial officer.

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Premiere -> SKY Deutschland
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Premiere -> SKY Deutschland - 14-May-2009, 13:02

New pay TV service to launch in Germany and Austria

New service to be called Sky
Improvements for customers will begin in July
Premiere AG to start trading as Sky Deutschland AG, subject to shareholder approval
Extraordinary write-off of the Premiere trademark
No impact on existing customer contracts

Munich, 14 May 2009. Premiere AG today announces that it will launch a new pay TV service in July 2009. The new service will be called Sky and will replace the existing Premiere service at launch.

Chief Executive Mark Williams said: I am very excited to announce our plans to create a new pay TV service. We intend to make changes that will fundamentally improve the experience for customers. Becoming Sky underscores our commitment to offer a world-class entertainment service in Germany and Austria. The Sky brand stands for the best choice of television entertainment available, giving customers high-quality programming that they cannot find elsewhere, putting innovative services into their homes and improving satisfaction with strong customer service. The changes will begin in July and customers have much to look forward to in the coming months and years.

Subject to approval by shareholders at the Annual General Meeting, the name of the company will be changed from Premiere AG to Sky Deutschland AG.

As a result of the decision by the Management Board with the approval of the Supervisory Board to discontinue the use of the Premiere brand, the value of the Premiere trademark will be written off in Q2 2009. The impact on net income will be negative 256.1m, comprising the write-off of 331.6m offset by a release of deferred tax liabilities of 75.5m.

Todays announcement is the latest step in managements strategy for rebuilding the business. Over the past six months, the new management team has made significant progress: closing the security gap in the service; securing the Bundesliga rights through to 2013; and successfully recapitalising the business. The decision to launch a new service under the Sky brand is part of managements commitment to focus the business on its customers and to raise the bar for pay TV in Germany and Austria.

Todays announcement will have no impact on existing customer contracts. Nevertheless, all existing customers will have the opportunity to adopt the new services when Sky launches in July. The company plans to unveil details of the new packages and pricing in early June.

The Sky brand and associated trademarks have been licensed from BSkyB.

New pay TV service to launch in Germany and Austria (14.05.2009)

Can only be better, i hope ;)
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