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BSkyB Shares Drop 7% Amid Digital-TV Woes

January 20, 1998|From Reuters

British Sky Broadcasting Group's stock fell near record lows Monday, hit by negative brokerage reports and continued uncertainty about the pay-TV company's digital-TV launch.

The stock dropped nearly 7% after one of the company's brokers, BZW, cut its profit forecasts for BSkyB.

In the last year, BSkyB's shares have been buffeted by management changes and concerns about the launch of the company's 200-channel digital-TV services.

Last week, BSkyB extended its deadline for the digital-TV launch by about a month to June, after some manufacturers said they wouldn't be able to produce the crucial decoding devices on time.

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