Bskyb Share News (BSY)

Fri, 27th Jul 2012 10:04

LONDON, July 27 (Reuters) - Satellite broadcaster BSkyB said it has bought producer-distributor Parthenon Media Group as part of plans to create a new distribution division to market the rights to its content overseas.

BSkyB said on Friday the creation of an in-house distribution team would speed up its plans to start selling its television programmes overseas and help generate additional revenue.

It did not disclose the price paid but said that Parthenon had gross assets of 18.2 million pounds ($28.6 million) at end-June.

BSkyB has invested more than 450 million pounds in British commissioning and production in 2012, and intends to increase this to 600 million pounds a year by 2014.

BSkyB, which provides pay-TV, broadband and telephony services, has focused in the last year on selling extra services to existing customers after it became increasingly difficult to sign up new subscribers in the tough economic conditions.

On Thursday it reported full-year revenues up 4.5 percent to 6.8 billion pounds and record adjusted operating profit up 14 percent to 1.2 billion pounds.

($1=0.6370 British pounds)



(Reporting by Brenda Goh; Editing by Mike Nesbit) Keywords: BSKYB/

(brenda.goh@thomsonreuters.com)(+44 020 7542 2230 Reuters Messaging: brenda.goh.thomsonreuters.com@reuters.net)

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