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Greater Spending Increases BSkyB's Loss

July 26, 2001|Bloomberg News

British Sky Broadcasting Group's fiscal fourth-quarter loss widened as Europe's second-biggest pay-television company spent more on films, sports and services to draw viewers.

The London-based company's loss for the quarter ended June 30 was $244 million from a loss of $180.9 million a year earlier, the company said. BSkyB added about 150,000 subscribers in the period.

Pay-TV companies such as BSkyB and Canal Plus, Europe's biggest, have lost money as they invested in the rights to show films such as "Gladiator" and "Chicken Run," and sports such as soccer. BSkyB, which is 36% owned by News Corp., is also fending off competition for viewers from cable companies and rival ITV Digital.

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