• Satellites shine for News Corp

    Satellites shine for News Corp
    08.37 Europe/London, November 3, 2011 By Julian Clover

    News Corpís European satellite interests made a healthy contribution in the first quarter of the media giantís fiscal 2012.

    Operating income at Sky Italia increased by $37 million (Ä27.02 million) to $119 million, helped along by the absence of the FIFA World Cup and a reduction in marketing costs after last yearís 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 yearís $94 millio. The increased contributions from affiliates are primarily due to improved results from Sky Deutschland and BSkyB.

    News Corpís first quarter net income of $738 million also included $130 million of pre-tax charges, incorporating a fair value adjustment on the Companyís SKY Deutschland convertible securities and a fee related to the Companyís withdrawal of its BSkyB bid in July.
    This article was originally published in forum thread: Satellites shine for News Corp started by chris View original post