| BSkyB chief executive James Murdoch was quoted in a
media report saying, "Sky continues to deliver improvement in
its financial performance, and remains on track to hit all operational
and financial targets. Slower DTH subscriber growth during the quarter
reflected our decision to pull back on platform marketing in a seasonally
quiet period."
The company also revealed that it would not sell the rights to
broadcast six to eight Premier League soccer matches because none
of the bids it received reached a price per match agreed upon with
regulators.
BSkyB has signed up new pay-television subscribers at the slowest
pace in more than two years in its third quarter, but its profit
increased anyway because it sold its 20 per cent stake in a home
shopping channel to QVC, generating a gain of about £49 million.
Net income jumped to £113 million from £17 million
a year earlier, BSkyB said. Sales rose to £931 million from
£819 million.
James Murdoch, who became CEO in November, is counting on Sky Plus,
which lets users rewind live TV, and on luring more viewers to reach
eight million subscribers by the end of 2005.
The company also announced that James had agreed a 12-month rolling
contract, seven months after being installed as BSkyB CEO. According
to a media report, Murdoch will earn an annual salary of £750,000,
plus £200, per year in relocation and other expense allowances
for three years. He will also be entitled to a bonus. Murdoch is
being granted 450,000 BSkyB shares, though 70 per cent of the entitlement
will be subject to performance.
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