Sky Group

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Sky Group Limited<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> is a British media and telecommunications conglomerate owned by Comcast and headquartered in London. It has operations in the United Kingdom, Ireland, Germany, Austria, Switzerland and Italy. Sky is Europe's largest media company and pay-TV broadcaster by revenue (Template:As of),<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> with 23 million subscribers and more than 31,000 employees as of 2019.<ref name="Key facts and figures"/><ref name="News Corp. slows BSkyB bid">{{#invoke:citation/CS1|citation |CitationClass=web }}Template:Dead link</ref> The company is primarily involved in satellite television, producing and broadcasting. The current CEO is Dana Strong.

Formed in 1990 by the equal merger of Sky Television and British Satellite Broadcasting, BSkyB became the UK's largest pay television company.<ref>Template:Cite news</ref> In 2014, after completing the acquisition of Sky Italia and Sky Deutschland, the merged company changed its name to Sky plc.<ref name="Sky plc">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Since its founding, Rupert Murdoch's News Corporation held 39.14% of Sky Group, and in June 2010, they attempted to buy out the rest of Sky, but the bid was withdrawn in July 2011 following the News International phone hacking scandal that also led to News Corporation splitting into News Corp and 21st Century Fox, the latter of which continued to hold News' stake in Sky.<ref>Template:Cite news</ref> In December 2016, 21st Century Fox made a bid to acquire the remaining shares of Sky, pending government approval. After The Walt Disney Company announced that they were to acquire Fox, Comcast initially engaged in a bidding war, but dropped out to acquire Sky instead, outbidding Fox with an offer for £17.28 per share; Fox sold their stake in October 2018, followed by the remaining shareholders a month later.

Before the acquisition by Comcast, Sky was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index. It had a market capitalisation of approximately £18.75 billion (€26.76 billion) in 2018.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

History

BSkyB

Formation

File:UK satellite TV evolution.JPG

British Sky Broadcasting (BSkyB) was formed by the merger of Sky Television and British Satellite Broadcasting on 2 November 1990.<ref>Sky and BSB in merger deal. The Times, 3 November 1990</ref> Both companies had begun to struggle financially and were suffering financial losses as they competed against each other for viewers. The Guardian later characterised the merger as "effectively a takeover by News Corporation".<ref name="guardian.co.uk">Sky TV's launch: 'a wing and a prayer' , media editor Maggie Brown, Guardian Organgrinder blog, 5 February 2009 Retrieved 24 December 2012.</ref>

The merger was investigated by the Office of Fair Trading<ref>Fair trading office to study merger of Sky and BSB. Melinda Wittstock, Media Correspondent. The Times, 6 November 1990</ref> and was cleared a month later since many of the represented views were more concerned about contractual arrangements which had nothing to do with competition.<ref>Merger of BSB and Sky cleared. Melinda Wittstock, Media Correspondent. The Times, 19 December 1990</ref> The Independent Broadcasting Authority was not consulted about the deal; after approval, the IBA demanded precise details of the merger, and stated they were considering the repercussions of the deal to ultimately determine whether BSB contracts were null and void.<ref>IBA to rule this week on satellite merger. Melinda Wittstock, Media Correspondent. The Times, 5 November 1990</ref><ref>Bsb broke contract in merger with Sky, MPs told. Peter Mulligan Parliamentary Reporter. The Times, 13 November 1990</ref> On 17 November, the IBA decided to terminate BSB's contract, but not immediately, as it was deemed unfair to 120,000 viewers who had bought BSB devices.<ref>IBA to pull the plug on BSB contract. Georgina Henry Media Editor. The Guardian; 17 November 1990</ref>

Sam Chisholm was appointed CEO<ref>Shops to withdraw squarials as three BSB 0ieciitiyes go. Melinda Wittstock, Media Correspondent. The Times, 8 November 1990;</ref> in a bid to reorganise the new company, which continued to make losses of £10 million per week. The defunct BSB's HQ, Marco Polo House, was sold, 39% of the new company's employees were made redundant to leave just under 1000 employees,<ref name="guardian.co.uk"/> and many of the new senior BSkyB executive roles were given to Sky personnel. In April, the nine Sky/BSB channels were condensed into five, with EuroSport being dropped soon after the Sky Sports launch.<ref>Eurosport to close down over weekend. The Times, 4 May 1991</ref> Chisholm also renegotiated the merged company's expensive deals with the Hollywood studios, slashing the minimum guaranteed payments. The defunct Marcopolo I satellite was sold in December 1993 to Sweden's NSAB, and Marcopolo II went to Norway's Telenor in July 1992<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> after the Independent Television Commission was unable to find new companies to take over the BSB licences and compete with BSkyB. News International received 50%, Pearson PLC 17.5%, Chargeurs 17.5%, Granada 12%, and Reed International 2% of the new shares in the company.<ref>Fall for Granada. The Times, 12 December 1990</ref>

By September 1991, after losses had been reduced to $30M a week, Rupert Murdoch said "there were strong financial marketing and political reason[s] for making the compromise merger instead of letting BSB die. Many of the lessons had been learnt with more than half the running cost of the combined company". Further cuts in losses were a direct result of 313,000 new customers joining during the first half of 1991.<ref>Sky TV 'in sight of breaking even'. Graham Searjeant, Financial Editor. The Times, 19 September 1991</ref> By March 1992, BSkyB posted its first operating profits, of £100,000 per week, with £3.8 million weekly from subscriptions and £1 million from advertising, but continued to be burdened with £1.28 billion of debt. Stockbroker firm James Capel forecast BSkyB would still be indebted in 2000.<ref>BSkyB achieves operating profit ahead of forecasts. Melinda Wittstock, Media Correspondent. The Times, 10 March 1992</ref>

In the autumn of 1991, talks were held for the broadcast rights for Premier League for a five-year period, from the 1992 season.<ref>ITV's monopoly threatened by Premier League. Peter Ball. The Times, 1 October 1991</ref> British television network ITV were the current rights holders for the Football League, and fought hard to gain the new rights. ITV had increased its offer from £18m to £34m per year to obtain the new rights.<ref>Premier League unity is tested by offer of £34m. Peter Ball. The Times, 18 April 1992</ref> BSkyB joined forces with the BBC<ref>BSkyB and BBC bid offers huge rewards. Peter Ball. The Times, 18 May 1992</ref> to make a counter bid. The BBC was given the highlights of most of the matches, while BSkyB paid £304m for the Premier League rights, giving them a monopoly of all live matches, up to 60 per year from the 1992–93 season.<ref>Premier League kicks off with £304m TV deal. Peter Ball. The Times, 19 May 1992</ref> Murdoch has described sport as a "battering ram" for pay-television, providing a strong customer base.<ref>Template:Cite news</ref> A few weeks after the deal, ITV went to the High court to get an injunction as it believed their details were leaked before the decision was taken. ITV also asked the Office of Fair Trading to also investigate since it believed Rupert Murdoch's media empire via the newspapers had influenced the deal.<ref>ITV challenges football deal in High Court. Lin Jenkins. The Times, 23 May 1992;</ref> A few days later neither action took effect, ITV believed BSkyB was telephoned and informed of its £262m bid, and the Premier League advised BSkyB to increase its counter bid.<ref>ITV fails to halt football deal. Lin Jenkins. The Times, 27 May 1992</ref> BSkyB retained the rights paying £670m for the 1997–2001 deal, but was challenged by On Digital<ref>'Time to play hardball' by David Teather and Vivek Chaudhary investigate 8 May 2000</ref> for the rights from 2001 to 2004, thus it was forced to pay £1.1 billion which gave it 66 live games a year.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Following a lengthy legal battle with the European Commission, which deemed the exclusivity of the rights to be against the interests of competition and the consumer, BSkyB's monopoly came to an end from the 2007–08 season. In May 2006, the Irish broadcaster Setanta Sports was awarded two of the six Premiership packages that the English FA offered to broadcasters. Sky picked up the remaining four for £1.3bn.<ref>Template:Cite news </ref>

Becoming a public limited company

In October 1994,<ref>BSkyB seeks to go into orbit with £5bn flotation. Buckingham, Lisa. The Guardian; 7 October 1994;</ref> BSkyB announced its plans to float the company on the UK and US stock exchanges, selling off 20% of the company.<ref>BSkyB's float has £50m price tag. Buckingham, Lisa, The Guardian; 26 November 1994</ref> The stock flotation reduced Murdoch's holding to 40 per cent and raised £900m, which allowed the company to cut its debt in half. Sam Chisholm said "By any standards this is an excellent result, in every area of the company has performed strongly".<ref>£5m a week operating profits at BSkyB. Martin Waller, Deputy City Editor. The Times, 8 February 1995</ref> Chisholm became one of the world's most highly paid television executives.<ref>BSkyB trio share £3.8m bonuses. Cowe, Roger; The Guardian; 15 November 1994</ref>

In 1995, BSkyB opened its second customer management centre at Dunfermline, Scotland,<ref>New BSkyB centre to give Fife 1,000 jobs. Gillian Bowditch, Scotland Correspondent. The Times, 6 October 1994;</ref> in addition to its original centre at Livingston which opened in 1989. BSkyB entered the FTSE 100 index, operation profits increased to £155M a year, and Pearson sold off its 17.5% stake in the company.<ref>BSkyB soars to £155m as Pearson seeks stake sale. Alexandra Frean, Media Correspondent. The Times, 18 August 1995</ref>

Sam Chisholm resigned from BSkyB due to a rift with Rupert Murdoch in June 1997.<ref>Murdoch row led BSkyB chief to quit. Emily Bell, Media Business Editor. The Observer (1901-2003); 22 June 1997</ref> A week later, Murdoch was quoted as saying "I cannot understand the fuss; BSkyB was grossly overpriced", which caused further rifts with the new management.<ref>Murdoch row splits BSkyB. Brown, Maggie. The Guardian; 7 July 1997</ref>

In 1997, BSkyB formed a partnership with Carlton and Granada to bid for the right for the new digital terrestrial network. In June, it was awarded the right to start the service, ONdigital, under the condition BSkyB withdrew from the group's bid.<ref>ITV big two lead digital revolution. Eric Reguly and Carol Midgley. The Times, 25 June 1997</ref> In February 2003 BSkyB wished to renegotiate its deal with MTV to reduce its payment from £20m. Chief executive Tony Ball said "We're definitely prepared to stare them down if we can't get a sensible deal. MTV, and other channels, have done particularly well out of the growth of Sky but the opportunity for savings is now there and Sky will be taking it," he added. "MTV has done extremely well out of that original deal."<ref>Template:Cite news</ref> On 17 April 2003 BSkyB launched its own range of music channels Scuzz, Flaunt and The Amp, as part of its plan to create its own original channels for the platform.<ref>Is channel growth music to the ears? | Archive. Marketing Week (20 March 2003). Retrieved on 9 December 2013.</ref> Within 18 months the channels failed to make impact, and were outsourced to the Chart Show Channels company.<ref>BSkyB hands running of music channels to chart channels | Archive. Marketing Week (16 September 2004). Retrieved on 9 December 2013.</ref>

Shortly afterwards it acquired Artsworld, giving a majority of subscribers full access to the channel. The buyout was part of James Murdoch's strategy to improve the perceptions BSkyB which could lead to potential new subscribers. John Cassy, the channel manager of Artsworld, said: "It is great news for the arts that a dedicated cultural channel will be available to millions of households."<ref>Template:Cite news</ref>

In early 2007 Freeview overtook Sky Digital with nearly 200,000 more subscribers at the end of 2006, while cable broadcaster Virgin Media had three million customers.<ref>Template:Cite news</ref> In July 2007, BSkyB announced the takeover of Amstrad for £125m, a 23.7% premium on its market capitalisation.<ref name="BSkyB">Template:Cite news</ref>

BSkyB and Virgin Media announced that they had reached agreement for the acquisition by BSkyB of Virgin Media Television. Virgin1 was also a part of the deal and was rebranded as Channel One on 3 September 2010, as the Virgin name was not licensed to Sky.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>Template:Cite news</ref> The new carriage deals are understood to be for up to nine years.<ref>Template:Cite news</ref> The deal was completed in July 2010 and Virgin Media Television was renamed Living TV Group.

In June 2010, News Corporation made a bid for complete ownership of BSkyB. However, following the News International phone hacking scandal, critics and politicians began to question the appropriateness of the proposed takeover. The resulting reaction forced News Corp. to withdraw its bid for the company in July 2011.<ref name="bbc-takeoverpulled">Template:Cite news</ref><ref>Template:Cite news</ref> The scandal forced the resignation of James Murdoch, who was the chairman of both BSkyB and News International, from his executive positions in the UK, with Nicholas Ferguson taking over as Chairman of BSkyB.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> In September 2012, Ofcom ruled that BSkyB was still fit to hold broadcast licenses in the UK, but criticised James Murdoch's handling of the scandal.<ref>Template:Cite news</ref> On 28 June 2013, News Corporation was split into two publicly-traded companies; the company's publishing operations (including News International, renamed News UK) and broadcasting operations in Australia were spun into a new company known as News Corp, while the company's broadcast media assets, including its 39.14% stake in Sky, were renamed 21st Century Fox.<ref>Template:Cite news</ref>

European acquisitions

On 12 May 2014, BSkyB confirmed that it was in talks with its largest shareholder, 21st Century Fox, about acquiring 21st Century Fox's 57.4% stake in Sky Deutschland and its 100% stake in Sky Italia. The enlarged company (dubbed "Sky Europe" in the media) would consolidate 21st Century Fox's European digital TV assets into one company.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> The £4.9 billion takeover deal was formally announced on 25 July, where BSkyB would acquire 21st Century Fox's stakes in Sky Deutschland and Sky Italia. BSkyB also made a required takeover offer to Sky Deutschland's minority shareholders,<ref>Template:Cite news</ref> resulting in BSkyB acquiring 89.71% of Sky Deutschland's share capital. The acquisitions were completed on 13 November.<ref name="Sky plc"/>

Sky plc

British Sky Broadcasting Group plc changed its name to Sky plc to reflect the European acquisitions, and the United Kingdom operations were renamed Sky UK Limited. Sky plc bought out the remaining minority shareholders in Sky Deutschland during 2015, using a squeeze-out procedure to obtain the remaining shares and delist Sky Deutschland on 15 September 2015.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Competition around being acquired

On 9 December 2016, 21st Century Fox announced that it had made an offer to acquire the remainder of Sky plc for £11.7 billion at a value of £10.75 per-share. It marked Fox's second attempt to take over Sky, as its previous attempt under News Corporation was affected by the News International scandal. The two companies reached an agreement on the deal on 15 December, subject to regulatory approval.<ref name="bloomberg-foxtakeover">Template:Cite news</ref><ref name="bbc-sky21cf">Template:Cite news</ref>

Ofcom expressed concern that this purchase would give the Murdoch family "material influence over news providers with a significant presence across all key platforms" and "increased influence over the UK news agenda and the political process". However, the regulator did deem that a Fox-owned Sky would be "fit and proper" to hold broadcast licences, despite the recent sexual harassment controversies that had emerged at the US Fox News Channel, as there was no evidence to the contrary.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="guardian-bradley">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="nyt-foxreview">Template:Cite news</ref> Avaaz opposed Ofcom's opinion, stating that the regulator "made mistake after mistake in deciding to give the Murdochs a clean bill of health to take over more of our media".<ref>Template:Cite news</ref>

The Walt Disney Company announced on 14 December 2017 that it would acquire 21st Century Fox, including its stake in Sky plc but barring specific US assets. Fox stated that this purchase would "not alter [its] full commitment and obligation to conclude our proposed transaction". Analysts suggested that Disney's proposed transaction could ease regulatory concerns over Fox's purchase of Sky, as the company will eventually lose its ties to the Murdoch family. Disney has a narrower scope of media ownership in the country than the Murdoch family.<ref>Template:Cite news</ref> Sky already has a relationship with Disney for its Sky Cinema service, holding pay television rights to its films in the United Kingdom and operating a dedicated Sky Cinema channel devoted to Disney content.<ref>Template:Cite news</ref>

A preliminary report by the Competition and Markets Authority issued January 2018 called for the insulation or outright divestment of Sky News as a condition of the purchase, so that it is editorially independent from the Murdoch family.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Sky had threatened to reevaluate the channel's continued operations if they "unduly impeded merger and/or other corporate opportunities available in relation to Sky's broader business". The channel has operated on a loss of at least £40 million per-year.<ref>Template:Cite news</ref><ref>Template:Cite news</ref> In February 2018, Fox proposed the establishment of an independent editorial board, and committing to fund the network for at least 10 years. This commitment would be inherited by Disney after the completion of its purchase of 21st Century Fox.<ref>Template:Cite news</ref><ref>Template:Cite news</ref> On 3 April 2018, Fox stated that Disney had "expressed an interest in acquiring Sky News", which would not be conditional on its proposal to acquire 21st Century Fox.<ref>Template:Cite news</ref>

A bidding war began 25 April 2018, when the competing US media and telecoms conglomerate Comcast (owner of NBCUniversal), announced a counter-offer for Sky at £12.50 per-share, or approximately £22.1 billion.<ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref> NBCUniversal CEO Steve Burke stated that purchasing Sky would roughly double its presence in English-speaking markets, and allow for synergies between the respective networks and studios of NBCUniversal and Sky.<ref>Template:Cite news</ref>

On 5 June 2018, Culture Secretary Matt Hancock cleared both 21st Century Fox and Comcast's respective offers to acquire Sky plc. Fox's offer was contingent on the divestiture of Sky News.<ref>Template:Cite news</ref><ref>Template:Cite news</ref> On 12 June 2018, Comcast announced a US$65 billion counter-offer to acquire the 21st Century Fox assets that Disney had offered to purchase.<ref>Template:Cite news</ref> However, Fox subsequently agreed to an increased, US$71.3 billion offer from Disney instead.<ref>Template:Cite news</ref> On 15 June 2018, the European Commission gave antitrust clearance to Comcast's offer to purchase Sky, citing that in terms of their current assets in Europe, there would be limited impact on competition. Comcast included a 10-year commitment to the operations and funding of Sky News similar to that of Disney's offer.<ref>Template:Cite newsTemplate:Subscription required</ref><ref>Template:Cite newsTemplate:Subscription required</ref><ref>Template:Cite news</ref> On 19 June 2018, Disney formally agreed to acquire Sky News as part of Fox's proposed bid, with a 15-year commitment to increase its annual funding from £90 million to £100 million.<ref>Template:Cite news</ref>

On 11 July 2018, Fox increased its bid for Sky to £14.00 per share, valuing it at £24.5 billion. Comcast subsequently counterbid just hours later with an offer at £14.75 per-share, valued at £26 billion.<ref>Template:Cite news</ref><ref>Template:Cite news</ref> On 19 July 2018, after Fox agreed to a Disney counter-offer,<ref>Template:Cite news</ref><ref>Template:Cite news</ref> it was reported that Comcast had abandoned its bid for 21st Century Fox to focus solely on Sky.<ref>Template:Cite news</ref><ref>Template:Cite news</ref>

On 20 September 2018, the Panel on Takeovers and Mergers ordered that a blind auction be held "in order to provide an orderly framework for the resolution of this competitive situation". In this process, Fox, followed by Comcast, made new cash-only bids for Sky. After these first two rounds of bidding, there would be a third round where both companies could make new offers. However, the third round of bidding would only be binding if both companies make a bid. The results were to be revealed on 22 September, and be confirmed by the start of trading on 24 September.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Comcast won the auction with a bid of £17.28 per-share, beating Fox's bid of £15.67.<ref>Template:Cite news</ref><ref>Template:Cite news</ref> Sky plc had until 11 October to formally accept this offer.<ref name="variety-openmarket">Template:Cite news</ref>

Following its auction victory, Comcast began to acquire Sky shares from the open market. On 26 September 2018, Fox subsequently announced its intent to sell all of its shares in Sky plc to Comcast for £12 billion.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="variety-openmarket"/> On 4 October 2018, Fox completed the sale of their shares, giving Comcast a 76.8% controlling stake at the time.<ref>Template:Cite news</ref>

Sky Group Ltd

On 12 October 2018, Comcast announced it would compulsorily acquire the rest of Sky after its bid gained acceptances from 95.3% of the broadcaster's shareholders with the company being delisted by early 2019.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Sky was delisted on 7 November 2018 after Comcast acquired all remaining shares.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

In August 2021, Sky Group signed a deal with ViacomCBS to launch Paramount+ in the United Kingdom, Ireland, Italy, Germany, Switzerland and Austria by 2022.<ref name="Sky">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> On 3 May 2022, it was announced that Paramount+ will launch on 22 June 2022 for Sky customers in Ireland and the United Kingdom.<ref name="Launch">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Management

• Executive Chairman: Jeremy Darroch (since January 2021)
• Chief Executive: Dana Strong (since January 2021)

List of former chairmen

1. Rupert Murdoch (1990–2007)
2. James Murdoch (2007–2012)
3. Nicholas Ferguson (2012–2016)
4. James Murdoch (2016–2018); second term

List of former chief executives

1. Sam Chisholm (1990–1997)
2. Mark Booth (1997–1999)
3. Tony Ball (1999–2003)
4. James Murdoch (2003–2007)
5. Jeremy Darroch (2007–2021)
6. Dana Strong (2021–Present)<ref name=":1">Template:Cite news</ref>

The first CEO of BSkyB was Sam Chisholm, who was CEO of Sky TV before the merger. Chisholm served in this position until 1997. He was followed by Mark Booth who was credited with leading the company through the introduction of Sky. Tony Ball was appointed in 1999 and completed the company's analogue to digital conversion. He is also credited with returning the company to profit and bringing subscriber numbers to new heights. In 2003, Ball announced his resignation and James Murdoch, son of Rupert Murdoch was announced as his successor. This appointment caused allegations of nepotism from shareholders.<ref>Template:Cite news</ref>

On 7 December 2007, it was announced that Rupert Murdoch would be stepping down as BSkyB's non-executive chairman and would be replaced by his son, James. In turn, James stepped down as CEO of BSkyB, to be replaced by Jeremy Darroch.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> It was estimated that Darroch would earn around £38.2 million from selling Sky to Comcast. He sold his 775,772 shares in Sky worth £13.4 million and would cash in on previously awarded bonus shares.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

In January 2021, it was announced that Darroch would be standing down as CEO, and will become executive chairman of Sky for the remainder of 2021, and will then be an advisor to the company.<ref name="deadlinedarroch">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> He was succeeded as CEO by Dana Strong in January 2021.<ref name="deadlinedarroch" /><ref name=":1" />

The current company directors are Comcast personnel: Michael J Cavanagh (Comcast senior VP & CFO), Arthur R Block (legal counsel) and David L Cohen (senior VP & CDO).<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Financial performance

Template:Update Financial results have been as shown in the table.<ref name=prelims>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Revenue and profit or loss, by fiscal year

Year ended	Revenue (£m)	Profit/(loss) before tax (£m)	Net profit/ (loss)(£m)
30 June 2020	18,600	unknown	unknown
30 June 2018	13,585	864	815
30 June 2017	12,916	803	691
30 June 2016	11,965	752	663
30 June 2015	9,989	1,516	1,952
30 June 2014	7,632	1,082	865
30 June 2013	7,235	1,257	979
30 June 2012	6,791	1,189	906
30 June 2011	6,597	1,014	810
30 June 2010	5,709	1,173	878
30 June 2009	5,359	456	259
30 June 2008	4,952	60	(127)
30 June 2007	4,551	815	499
30 June 2006	4,148	798	551
30 June 2005	4,048	631	425
30 June 2004	3,656	480	322
30 June 2003	3,186	128	190
30 June 2002	2,776	(1,276)	(1,383)
30 June 2001	2,306	(515)	(539)
30 June 2000	1,847	(263)	(272)
30 June 1999	1,545	(389)	(285)
30 June 1998	1,434	271	249
30 June 1997	1,270	314	288
30 June 1996	1,008	257	–
30 June 1995	778	155	–
30 June 1994	550	93	–
30 June 1993	380	(76)	–
30 June 1992	233	(188)	–
30 June 1991	93	(759)	–

In February 2019, The Economist magazine claimed that Sky enjoys gross margins of 50%.<ref>Template:Cite news</ref>

Current operations

Subsidiaries

Subsidiary companies of Sky Group

Name	Details
Sky UK Limited	The original Sky Television, now a holding company for Sky's United Kingdom operations.<ref>Template:Cite book</ref>
Sky Subscriber Services Limited	citation	CitationClass=web }}</ref>
Sky In-Home Services Limited	citation	CitationClass=web }}</ref>
Sky Broadband Limited and Sky Home Communications Limited	Operating companies for Sky's broadband and telephony services, including Be Un Limited which was acquired from O2.<ref>{{#invoke:citation/CS1|citation	CitationClass=web }}</ref>
Sky Ireland Limited	Operating company for Sky pay-television service in Ireland.<ref>Template:Cite news</ref>
Sky Italia S.r.l.	Operating company for Sky pay-television, broadband and telephony services in Italy.<ref>{{#invoke:citation/CS1|citation	CitationClass=web }}</ref>
Sky Deutschland GmbH	Operating company for Sky pay-television service in Germany, Austria and Switzerland.<ref>Template:Cite news</ref>
Sky Studios	In June 2019, Sky formed Sky Studios with the production assets from Sky Vision. Excluding distribution which was transferred to sister company NBCUniversal.<ref>{{#invoke:citation/CS1|citation	CitationClass=web }}</ref><ref name=":0">{{#invoke:citation/CS1|citation	CitationClass=web }}</ref>
Amstrad	British electronics company acquired by BSkyB.<ref name="BSkyB"/>
Now	An internet broadcast company owned by Sky.
Freesat from Sky	A free satellite television service similar to Freesat and Freeview.
The Cloud	Free Public Wi-Fi hotspot provider acquired by BSkyB.<ref>{{#invoke:citation/CS1|citation	CitationClass=web }}</ref>

Ventures

Current venture operations of Sky Group

Venture	Share	Partner	General information
A&E Networks UK	50%	A&E Networks	Operates Blaze, History, H2 and CI channels<ref>Template:Cite news</ref>
Sky Sports Racing	50%	Arena Racing Company
Ginx TV Ltd	50%	ITV plc<ref>{{#invoke:citation/CS1|citation	CitationClass=web }}</ref>
Jupiter Entertainment	60%
Skybound Stories	50%	Skybound Entertainment	citation	CitationClass=web }}</ref>
Comedy Central (British TV channel)	25%<ref name="annrep2009" />	Paramount British Pictures, part of Paramount Global/National Amusements
DTV Services Ltd	20%	Arqiva, BBC, Channel 4, ITV plc	Manages and markets the Freeview brand<ref> {{#invoke:citation/CS1|citation	CitationClass=web }}</ref>
SkyShowtime	50%	Paramount Global (through Showtime Networks)

Sky services per country

Services offered by Sky Group divisions

Division	Countries	Years	Television	Broadband	Telephony
Sky UK	United Kingdom	1990–	Pay TV satellite, free TV satellite (Freesat from Sky), pay IPTV (Sky Glass/Sky Stream)	DSL and FTTP	Landline and mobile
Sky Ireland	Ireland	1998–	Pay TV satellite	DSL and FTTP	Landline
Sky Italia	Italy, San Marino, Vatican City	2003–	Pay TV satellite, pay IPTV (Sky Q via internet/Sky Glass)	FTTH and FTTC	Landline and mobile
Sky Deutschland	Germany, Austria, Switzerland (through Sky Switzerland)	2009–	Pay TV satellite	Template:N/a	Template:N/a

Former operations

Subsidiaries

Former subsidiary companies of Sky Group

Name	Details
Sky España	An over-the-top video streaming service in Spain. On 1 September 2020, Sky España ceased its own operations.<ref>Sky Launches Low-Cost Streaming Service in Spain - Stewart Clarke, Variety, 11 September 2017</ref>
Acetrax	A video on demand movie rental service. Now closed down.<ref>{{#invoke:citation/CS1|citation	CitationClass=web }}</ref>
Sky México	(41.3%) – with Liberty Media and Grupo Televisa Operating company for Sky pay-television service in Mexico. Sold their stake to DirecTV
Sky Brasil	(80%) – with Liberty Media and Grupo Globo Operating company for Sky pay-television service in Brazil. Sold their stake to DirecTV
Sky Vision	Unit for distributing TV shows globally and investment in production assets. Assets split between Sky Studios and Universal Television Distribution following Comcast's takeover of Sky<ref>{{#invoke:citation/CS1|citation	CitationClass=web }}</ref><ref name=":0" />
Template:Ill	(JSkyB) – with SoftBank Corp. Operating company for Sky pay-television service in Japan. Sold to DirecTV and later absorbed into SKY PerfecTV!

Ventures

Former venture operations of Sky Group

Venture	Share	Partner	General information
Australian News Channel	33.3%<ref name="annrep2009" />	Seven Network and Nine Entertainment and operated Sky News Australia	Sold to News Corp Australia
Bad Wolf	minority	HBO, BBC Studios	Sold to Sony Pictures Television<ref>{{#invoke:citation/CS1|citation	CitationClass=web }}</ref><ref>{{#invoke:citation/CS1|citation	CitationClass=web }}Template:Dead link</ref>
Beamly	10%		Sold to Coty
Nickelodeon UK	40%<ref name="annrep2009"> {{#invoke:citation/CS1|citation	CitationClass=web }}</ref>	Paramount Networks UK & Australia, part of Paramount Global	Sold to Paramount Networks UK & Australia

Stake in ITV

ITV plc has been the subject of a flurry of rumoured take-over and merger bids since it was formed. For example, on 9 November 2006, NTL announced that it had approached ITV plc about a proposed merger.<ref>Template:Cite press release</ref><ref>Template:Cite press release</ref> The merger was effectively blocked by BSkyB on 17 November 2006 when it controversially bought a 17.9% stake in ITV plc for £940 million,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> a move that attracted anger from NTL shareholder Richard Branson<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> and an investigation from media and telecoms regulator Ofcom.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> On 6 December 2006, NTL announced that it had complained to the Office of Fair Trading about BSkyB's move. NTL stated that it had withdrawn its attempt to buy ITV plc, citing that it did not believe that there was any possibility to make a deal on favourable terms.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> On 17 July 2014, BSkyB's 6.4% stake in ITV was sold to Liberty Global, valued at £481 million.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

External links

• Template:Official website
• Template:OpenCorp