Sky shares plunge to all-time low as Spark steals cricket rights

Paul McBeth
Thu, 10 Oct 2019

Sky Network Television shares plunged below $1 for the first time in its 21 years as a listed company after Spark New Zealand pulled the rug out from under the pay-TV operator in securing cricket broadcasting rights.  Sky shares slumped as much as 17 percent to 92 cents, valuing the company at just $381 million, a fraction of the $2.7 billion market capitalisation it commanded at its peak in mid-2014 The stock dropped after Spark said it secured all New Zealand Cricket matches played domestically for the next six years in a deal that incl...
Retail
Ardern hints at mandatory contact tracing for businesses
Victoria Young | Wed, 15 Jul 2020

Prime Minister Jacinda Ardern today warned businesses to encourage contact tracing or she might force it upon them. “My message to businesses is to put that poster up. We’ve always said it was volu...

Economy
GAVIN EVANS: Southland jobs sacrificed to confused energy policy
Gavin Evans | Wed, 15 Jul 2020

The 2,600 jobs to be sacrificed in Southland next year are a high price to pay for confused energy policy and a multi-decade decline in this country’s economic ambitions. Despite the writing being...

Infrastructure
Napier Port quarterly freight volumes slide
Gavin Evans | Wed, 15 Jul 2020

Freight volumes through Napier Port have rebounded from their April trough but remain below year earlier levels. The company, which in May cancelled its interim dividend given the uncertain outlook...