Sky TV cans dividend, writes off $670m ahead of rights battle

Wed, 21 Aug 2019

By Paul McBeth Aug. 22 (BusinessDesk) - Sky Network Television won't pay a dividend for the first time since 2005 and has written down the value of the business by $670 million as it prepares to fight more aggressively for content rights under new leadership. The pay-TV operator reported a bottom-line loss of $607.8 million in the 12 months ended June 30, more than twice the $240.7 million loss reported a year earlier. The losses of the past two years largely stem from $1.03 billion of impairment charges on Sky's goodwill, reflecting the...

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