ITV stake costs BSkyB £343 million

Although sales for the last quarter rose by eleven per cent to £1.27 billion, overall BSkyB posted a loss for this quarter of £343 million. This loss has been put down solely to the fact that the 17.9 per cent holding in ITV had dropped b around a third. They paid £940 million and the stake is worth around £600 million at today’s prices.

However on a more positive note, they added 260,000 new broadband subscribers which when compared to the same period of time last year the figure was 149,000, which is a marked improvement and shows that they mean business.

BSkyB only stared offering Broadband in mid 2006, but now as the service is bundled with their phone and satellite TV services, they are able to complete with BT and Virgin Media.