Kingfish exits Sky TV investment, citing costs, new rivals

Wed, 16 Dec 2015

By Edwin Mitson Dec. 16 (BusinessDesk) - Kingfish, the NZX-listed investment company managed by Fisher Funds Management, sold its stake in Sky Network Television because of concerns about the increased cost of delivering new services and the arrival of on-demand rivals such as Netflix and Lightbox. In its interim report, senior portfolio manager Murray Brown and managing director Carmel Fisher say they had already reduced their holdings in Sky TV to below 2 percent prior to the broadcaster's annual shareholder meeting in October. At the m...

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