Sky Soars

05 November 2002

The denizens of London’s Stock Exchange, bereft of cheerful news from the UK media sector, gained heart following a weekend statement by NewsCorp-controlled satellite payTV operator BSkyB that it is on target to achieve its stated goal of seven million UK homes by the end of 2003.

Boosted by the demise of ITV Digital earlier this year, Sky has creamed the latter’s refugee viewers and will announce later this week it has already hit the 6.3m subscriber mark.

Sky shares soared 10% on Monday, closing at £6.31 ($9.87; €9.84). In the grey light of a Tuesday November morning, however, they dropped a few pence to £6.28 as the entrail-rakers and bettors took stock of the stock

Data sourced from: Times Online (UK); additional content by WARC staff