Sky TV slashes prices to stem customer exodus; cuts dividend to meet challenges

Tue, 27 Feb 2018

By Paul McBeth Feb. 28 (BusinessDesk) - Sky Network Television has slashed prices in an effort to slow an exodus of customers quitting its pay-TV service in favour of cheaper on-demand rivals and cut its interim dividend in half in an effort to cope with the rapidly changing environment. First-half profit rose. The Auckland-based company lost 37,359 customers in the six months ended Dec. 31, including the 10,608 it shed with the closure of the Fatso DVD rental unit, leaving it with 778,776 subscribers at the end of the year. The reductio...

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