Sky needs years to become 'sustainable'
The Local · 6 Sep 2010, 15:47
Published: 06 Sep 2010 15:47 GMT+02:00
He refused, however, to forecast when the channel would stop making losses, saying he was prohibited from doing so ahead of the firm’s planned capital increase.
Sky announced last month it hoped to raise at least €340 million by issuing new shares and convertible bonds backed by its parent company News Corp. The capital increase is structured to keep News Corp.’s stake from increasing over 49.9 percent.
Sullivan said Sky, which has struggled for years to get Germans to pay for television programming, would implement new content, technology and marketing measures in the coming months.
Besides exploring subscription models for new mobile platforms such as Apple’s iPad, Sullivan said Sky was “in good talks with a number of cable companies” for new content.
Sky also said it planned to broadcast the Ryder Cup golf tournament in 3D and high definition on October 3.