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    British Sky Broad. - Carrying value of investment

    This is a discussion on British Sky Broad. - Carrying value of investment within the Sky news and announcements forums, part of the SkyUser Announcements category; BSkyB review of carrying value of investment in ITV As required by International Accounting Standard 39 ('IAS 39'), British Sky ...

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      British Sky Broad. - Carrying value of investment

      BSkyB review of carrying value of investment in ITV

      As required by International Accounting Standard 39 ('IAS 39'), British Sky Broadcasting Group plc (the 'Group') announces that, following a review of the carrying value of its investment in ITV plc, it expects to recognise an impairment loss of GBP343 million as an exceptional item in the Group's income statement for the half year ended 31 December 2007. This has been determined with reference to the value of the 17.9% shareholding based on ITV's equity share price at the 28 December 2007 (the last working day of the Group's fiscal half year).

      The Group's full interim results for the six month period ended 31 December 2007 will be announced on 6 February 2008.

      BSkyB - Corporate - Press Release(printable version)
      Last edited by NewsreadeR; 29-01-08 at 04:24 PM.


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      Re: British Sky Broad. - Carrying value of investment

      Expect all our bills to go up accordingly. Which takes the mickey a little as Sky will have funded the purchase of these shares from our subs no doubt anyway (directly or indirectly).

      Slim

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      Re: British Sky Broad. - Carrying value of investment

      It's the 3rd year in the row that they will have a "execptional" of this magnitude, 1st was the purchase of easynet, then the purchase of Amstrad and now this.

      I wonder if they are still trying to offload the ITV shares for a stake in channel 5?

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      Re: British Sky Broad. - Carrying value of investment

      shares, huh woossshhhhhh

      I think ill be one of about a million if not more people who are gonna hope the cost of sky will not go up. But perhaps the increase in the installation charge for existing customers is the first step?
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      Re: British Sky Broad. - Carrying value of investment

      I wouldn't be surprised if Sky still report profits of 800-900 million for this year which is the same as the previous 2 years.

      I suppose if they did clock 1billion profit it would be recieved quite badly from the public (including myself) and so these "execptional" expenses are a way of keeping profits at an "acceptable" level.

      Although I suppose that it stopped Virgin getting ITV cost them approx 300 million, which as far as they are concerned is probably the whole purpose of it anyways.

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      Re: British Sky Broad. - Carrying value of investment

      Why would it be received badly if they clocked 1 billion?
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      Re: British Sky Broad. - Carrying value of investment

      Just as a psycological figure, 1 billion profit sounds a lot more than 900 million and would stick Sky up with the Banks and the Supermarkets as the billion pound+ earners and none of them seem to get much good press when they all post their huge 10 figure profits, especially when I have to use them.

     

     

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