RESEND: Sky TV turns to a $240.7M annual loss after $360M writedown

Fri, 24 Aug 2018

(Removes repeated paragraph) By Tina Morrison Aug. 24 (BusinessDesk) - Sky Network Television, which has been grappling with a loss of subscribers to online rivals, wrote down its value by $360 million at the end of its financial year, resulting in a $240.7 million annual loss. The Auckland-based company wrote down the value of its goodwill to $1.07 billion from $1.43 billion, which pushed its annual accounts for the year ended June 30 into the red. Excluding the writedown, Sky TV's underlying profit increased 2.6 percent to $119.3 mil...

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