GPS News  
SPACEMART
BSkyB profits surge amid News Corp. takeover saga

by Staff Writers
London (AFP) Jan 27, 2011
BSkyB posted soaring profits on Thursday as the British pay-TV giant awaited a possible full takeover by Rupert Murdoch's News Corp., and as it bids to repair its reputation after a sexism scandal.

BSkyB said is half-year net profit jumped 59 percent to 407 million pounds (473 million euros, $648 million) as the satellite broadcaster of English Premier League football and the Sky News channel surpassed 10 million customers.

The earnings update for the six months to December came two days after the British government allowed News Corp. more time to argue its case for its bid to take full control of BSkyB in the face of competition concerns.

On Wednesday, Sky Sports football presenter Richard Keys resigned after making disparaging off-air comments about a woman soccer match official in a scandal that led to his colleague Andy Gray being sacked 24 hours earlier.

In a conversation between Keys and Gray ahead of last Saturday's Premier League match between Liverpool and Wolves, both men suggested assistant referee Sian Massey was unlikely to understand the offside rule.

Coverage of the Premier League has been central to BSkyB's growing commercial success over the past 20 years.

Speaking on BSkyB's performance, chief executive Jeremy Darroch said: "The business has delivered a half-year of outstanding performance, with record product sales and strong double-digit growth in revenue, profit and cash flow.

"In recognition of the growing strength of the business, we are increasing the interim dividend by a further 11 percent, the seventh consecutive year of growth," he said in the company's earnings statement.

The group's share price rose 0.66 percent to finish at 762.50 pence in London trade on Thursday. That was comfortably above News Corp.'s offer price of 700 pence a share for the 61 percent of the company it does not own.

"BSkyB defied analysts' estimates as it reported an outstanding set of first-half numbers," said ETX Capital trader Manoj Ladwa.

"Given the increase in sales, revenue and profit, shareholders are unlikely to sell for anything less than a significant premium to the current trading price," he added.

News Corp. in June bid 7.8 billion pounds for BSkyB but it rejected that offer and says it wants 800 pence a share in continuing talks with Murdoch's media empire.

European regulators have said they would not stand in the way of a takeover but there is fierce opposition to the deal from a host of British broadcasters and newspapers.

The government has said that it is likely to refer the deal to Britain's competition watchdog while also offering News Corp. more time to argue its case.

BSkyB also provides telephone and Internet services and on Thursday said that it had bought The Cloud, a public Wi-Fi network operator, for an undisclosed amount.

News Corp. owns 39 percent of BSkyB, making it the group's largest shareholder. News Corp. also includes News International, whose British Sunday tabloid, News of the World, is at the centre of a phone hacking row.

British police on Wednesday launched a fresh investigation into allegations that celebrities had their phones hacked by the newspaper.

The scandal led to the resignation last week of British Prime Minister David Cameron's communications chief Andy Coulson, the newspaper's former editor.

Murdoch has snubbed the World Economic Forum summit in Davos, Switzerland, reportedly to deal with the crises at the News of the World and Sky Sports.



Share This Article With Planet Earth
del.icio.usdel.icio.us DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook



Related Links
The latest information about the Commercial Satellite Industry



Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News


SPACEMART
Antrix To Boost Market Share In Remote Sensing Data Products
Hyderabad, India (SPX) Jan 25, 2011
Antrix Corporation, the commercial arm of the Indian Space Research Organisation (ISRO), plans to increase its remote sensing data products market share with the launch of Resource-sat-2, a remote sensing satellite using PSLV C-16 version rocket next month. Murthy Remilla, deputy director, business development (remote sensing) of Antrix said that the number of ground stations which the Ant ... read more







SPACEMART
Fishy Consequences Of Transplanting Trout, Salmon, Whitefishes

China goes rabbit-crazy for Lunar New Year

Notre Dame Biologists Call For Regulation Of Rare Plant Sales

Smaller Rows Contribute To More Soybean Yields In Colder Climates

SPACEMART
Peripherals maker Logitech feels Asia-led sales boom

Motorola shares slide on gloomy outlook, iPhone

Toshiba returns to black for December quarter

Silicon Oxide Gets Into The Electronics Action On Computer Chips

SPACEMART
China refutes the J-20 uses F-117 copies

Asia budget carriers eye social media to cut costs

US, Canada defend F-35 fighter jet

Electronic devices seen as airplane threat

SPACEMART
GM sees car sales growth slowing in China and India

Nissan turning over a new Leaf with all-electric car

Daimler wants Berlin to fund e-car buys

Mitsubishi to launch eight new green cars by 2016

SPACEMART
India gives approval to S. Korean POSCO plant

Europe wrong-footed on China rare earths response

Macau tycoon sues family over casino empire

China vows to 'buy even more' overseas

SPACEMART
Concern at British plan to rent out forests

Timber smuggling rife in Kashmir

Global Pacts Like REDD Ignore Primary Causes Of Destruction Of Forests

Forest accords not saving trees, experts

SPACEMART
Eruption Of Colima Volcano

Veteran ERS Satellite Provides New Insight Into Greenland's Plumbing

Traffic Monitoring With TerraSAR-X/TanDEM-X Satellite Constellation

Russia Launches Meteorological Satellite

SPACEMART
Curved Carbon For Electronics Of The Future

New Research Shows How Light Can Control Electrical Properties Of Graphene

EPA to defer greenhouse gas permitting

Obama to regulate carbon from power plants


The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement