Sky Writes Off Kirch Billion

BSkyB has announced that it is writing off its investment in KirchPayTV, amounting to just under £1bn. The group, which has announced its interim results this morning, has written down the value of its shareholding to nil, in the process pushing losses to £1.2bn.

An analysis of today’s results from MediaTel Insight will be available on NewsLine later today.

BSkyB: 020 7705 3000 www.sky.com

Recent Financial stories from NewsLine: Murdoch In ‘Make Or Break’ Talks Over Kirch IPA Looks To Modernise Finance Function Sorrell Sees ‘No Blue Sky’

UK media shares are monitored and listed daily in MediaTel Newsline’s Sharewatch