SKY TV issues profit warning, shares fall 8%

Wed, 14 Dec 2016

By Jonathan Underhill Dec. 14 (BusinessDesk) - Sky Network Television, which is awaiting a decision from the Commerce Commission on a proposed merger with Vodafone New Zealand, cut its 2017 earnings guidance citing rising content costs, and falling revenue and subscribers. Sky's shares tumbled 8.3 percent. Earnings before interest, tax, depreciation and amortisation for the year ending June 30, 2017, is expected to be 5 percent to 7 percent below the $296 million forecast it gave in June, the Auckland-based pay-TV company said in a statem...

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