Sky Italia subscriber base still at 4.8 million
Wednesday, August 5th, 20094th Quarter Fiscal 2009 Earnings Release
NEW YORK, NY — News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today reported full year adjusted operating income of $3.6 billion, a $1.7 billion decline from the record $5.3 billion of adjusted operating income reported a year ago, with current year revenues of $30 billion, down 8% from the $33 billion reported in fiscal 2008.
Direct Broadcast Satellite Television
SKY Italia reported fourth quarter operating income of $155 million, a decrease of $57 million versus the $212 million in operating income reported a year ago, and full year operating income of $393 million, a decrease of $26 million versus the $419 million reported for fiscal 2008. These results reflect local currency revenue growth of 2% for the quarter and 8% for the year, which were more than offset by increased operating expenses associated with higher subscriber volume, increased marketing and sports rights costs.
Net subscriber additions of 235,000 over the past 12 months increased SKY Italia’s subscriber base to 4.8 million at quarterÂ’’s end. Revenue growth in the fourth quarter versus the prior year was reduced due to the change in the timing of revenue recognition associated with expanded soccer programming, which was broadcast throughout fiscal 2009 compared with only ten months of programming in fiscal 2008. This programming change shifted a portion of soccer revenues that were previously recognized in the last three fiscal quarters into the first quarter of the fiscal year.
Sky Deutschland
News Corporation also today announced that it has secured additional shares in Sky Deutschland AG, increasing its total stake in the German pay-television platform to 39.96 percent from 30.5 percent.
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