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Latest Satellite News Discussion, Satellites shine for News Corp at General Satellite News forum; Satellites shine for News Corp 08.37 Europe/London, November 3, 2011 By Julian Clover News Corps European satellite interests made a ...

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Satellites shine for News Corp - 03-November-2011, 23:10

Satellites shine for News Corp

08.37 Europe/London, November 3, 2011 By Julian Clover
News Corps European satellite interests made a healthy contribution in the first quarter of the media giants fiscal 2012.
Operating income at Sky Italia increased by $37 million (27.02 million) to $119 million, helped along by the absence of the FIFA World Cup and a reduction in marketing costs after last years rebranding exercise.
It was recently announced that Sky Italia had exceeded 5 million subscribers, having added 34,000 on the quarter.
First quarter net earnings from News Corp affiliates were $121 million as opposed to last years $94 millio. The increased contributions from affiliates are primarily due to improved results from Sky Deutschland and BSkyB.
News Corps first quarter net income of $738 million also included $130 million of pre-tax charges, incorporating a fair value adjustment on the Companys SKY Deutschland convertible securities and a fee related to the Companys withdrawal of its BSkyB bid in July.


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