SKY Italia subscriber base declines 25,000 in 2Q 2014

Wednesday, August 6th, 2014
Twenty-First Century Fox logo

NEW YORK, NY — Twenty-First Century Fox, Inc. (“21st Century Fox” or the “Company” — NASDAQ: FOXA, FOX) today reported financial results for the three months and full year ended June 30, 2014.

Direct Broadcast Satellite Television

Sky Deutschland grew net direct subscribers by approximately 82,000 during the quarter, bringing total direct subscribers to 3.81 million, while SKY Italia’s subscriber base declined by 25,000 during the quarter bringing total subscribers to 4.73 million.

SKY Italia subscribers

                  4Q         3Q         2Q         1Q
           ---------  ---------  ---------  ---------
Total                            4,730,000  4,750,000
Net Adds                          (25,000)   (10,000)

                  4Q         3Q         2Q         1Q
           ---------  ---------  ---------  ---------
Total      4,760,000  4,760,000  4,760,000  4,780,000
Net Adds           0          0   (27,000)   (51,000)

Sale of ownership stakes in Sky Italia and Sky Deutschland

On July 25, 2014 the Company announced that it will transfer Sky Italia and its fully diluted 57.4 percent interest in Sky Deutschland to BSkyB In exchange for approximately $9.3 billion in value from BSkyB comprised of approximately $8.6 billion in cash and BSkyB’s 21 percent interest in National Geographic Channels International, raising 21st Century Fox’s ownership stake to 73 percent. In addition, 21st Century Fox participated in BSkyB’s equity offering in July 2014 by purchasing approximately $900 million of additional shares in BSkyB to maintain the Company’s 39.1 percent ownership interest. The net, after-tax cash proceeds to be received by 21st Century Fox upon completion of all the elements of this transaction will approximate $7.2 billion. The agreement is subject to regulatory approvals, the approval of BSkyB stockholders and customary closing conditions.