Sharewatch: BSkyB Rises As James Murdoch Moves In
Week on week analysis of the media sector brought good news for BSkyB, which faced pressure following the appointment of James Murdoch as its new chief executive. The stock rose 2.71% week on week.
The group recently revealed it gained 170,000 new subscribers to its digital satellite service during the last three months (see BSkyB Doubles Profit As 7 Million Subs Target Is Hit). Reports also suggest the satellite broadcaster is to pay former chief executive, Tony Ball, an estimated £10 million to agree not to work for a rival media organisation in the next two years.
All eyes will be on Hollinger International today following reports that chief executive, Conrad Black, owner of the Daily Telegraph, has agreed to resign this morning, along with other top executives after admitting to receiving secret payments of £19 million.
Broader market sentiment was mixed yesterday, as the Bank Of England’s decision to raise interest rates continued to weigh on sentiment.
The closing prices of media company shares on Friday were:
