Sky Television has reported a sharp slide in its first-half profit on fewer subscribers and higher costs as it waits for a decision on its billion dollar merger deal with Vodafone.
A 4 percent fall in subscriber numbers is partly to blame for Sky's drop in first-half profits Photo: 123rf
The pay television operator made a net profit of $59.5 million for the six months ended December compared with $87.3m the year before.
Sky had warned late last year its earnings were being hit by higher programming costs, lower advertising income, and a 4 percent fall in the number of subscribers.
The expected result comes a day before the Commerce Commission releases its decision on whether it will allow Sky and telecommunications company Vodafone to merge their operations.
The deal is opposed by rivals Spark, 2degrees, Trustpower and Internet New Zealand, who argue it would allow the enlarged company to dominate the market and have too much control of content such as sport.
Sky is in court today facing Spark and others who want a 36-hour delay in implementing the merger if it gets the go-ahead tomorrow.