UPDATE: Sky TV shares sink to 3-week low as drop in subscribers dents 2017 earnings outlook

Thu, 05 May 2016

(Adds share price reaction starting in first paragraph, broker comment in seventh) By Tina Morrison May 6 (BusinessDesk) - Sky Network Television shares sank 13 percent, making it the biggest decliner on the NZX benchmark index today, after the pay-TV operator said subscriber numbers are expected to fall further this financial year, causing earnings next year to miss analyst estimates. The Auckland-based company forecast it would have 830,000 subscribers at the end of its financial year on June 30. Subscriber numbers dropped 1.5 percen...

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