UPDATE: Sky TV first-half profit falls 5.8% as competition drives up content costs

Thu, 25 Feb 2016

(Adds detail, share price) By Paul McBeth Feb. 26 (BusinessDesk) - Sky Network Television, the pay-TV operator under threat from online rivals, posted a 5.8 percent decline in first-half profit as the cost of securing content rose in an increasingly competitive market. The shares fell. Net profit dropped to $87.1 million in the six months ended Dec. 31, from $92.5 million a year earlier, the Auckland-based company said in a statement. Revenue rose 2.4 percent to $475.6 million as the broadcaster expanded its subscriber base 0.5 percent...

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