BSkyB Q4 net profit up nearly fourfold, announces deal to carry HBO programs

BSkyB Q4 net profit up nearly fourfold

LONDON — British Sky Broadcasting’s profit nearly quadrupled in its fourth quarter, the satellite broadcaster said Thursday as it announced an exclusive deal to carry new Home Box Office programming in the U.K.

BSkyB reported a profit of 336 million pounds ($525 million) in the three months ending June 30, compared to 90 million pounds a year earlier. Revenue rose to 1.53 billion pounds, up 12 percent from 1.36 billion pounds a year earlier.

For the full year, BSkyB reported a profit of 878 million pounds, up from 259 million pounds a year earlier. Revenue rose 10.3 percent to 5.9 billion pounds.

BSkyB shares were down 1 percent at 712.5 pence in early trading on the London Stock Exchange.

The deal with HBO, producer of hit programs including “The Sopranos” and “Sex and the City,” beefs up the comedy/drama offering for BSkyB, which has been heavily dependent on sports to lure subscribers.

BSkyB said it had a multiyear deal with HBO but did not disclose the price it is paying.

The company said it gained a net 90,000 subscribers in the fourth quarter, raising its total to 9.86 million.

BSkyB said subscribers to its high-definition service had more than doubled in a year, and that one in five subscribers had signed up for its triple play offering of TV, broadband and telephone.

The earnings statement shed no further light on a buyout offer from Rupert Murdoch’s News Corp., BSkyB’s biggest shareholder with a 39 percent stake.

On June 15, BSkyB said it had rebuffed a proposal which valued the company at 12 billion pounds ($17.7 billion), but suggested it would accept a higher price and would cooperate with News Corp. in exploring possibilities.