Sky Italy travel in red. In the second fiscal quarter ended last December 31, satellite TV recorded an operating loss of 20 million dollars, against the profit of 6 million achieved in the same period of the previous year.
The negative result is linked to the increase in programming expenses, including approximately 30 million in costs for rights associated mainly with television coverage of UEFA and the European Championships. The company also announces that it recorded a net reduction in subscribers of 28 units in the quarter, which brought the total to 4,83 million.
During the same period, Ruper Murdoch's parent News Corp. reported profits more than doubled on an annual basis, mainly thanks to the acquisition of 50% of Fox Sports Australia and Fox Star Sports Asia. The performance of the cable TV division also did well.
