Jörn Krieger ©RapidTVNews | 26-07-2011
German pay-TV broadcaster Sky Deutschland wants to get into the black without further cash injections from its main shareholder News Corp.
"We're totally OK on funding to go to break-even," chief financial officer Steven Tomsic told news agency Reuters.
Since its entry as a shareholder at Sky Deutschland in January 2008, News Corp had to pump fresh capital into the broadcaster five times - around €1 billion in total. The company sees its German pay-TV business as a long-term investment, stressed Tomsic. "There is no question about our degree of support."
The broadcaster has been in the red since its creation under the name Premiere - most lately the loss amounted to around €1 million per day. Only in the year of its stock market flotation in 2005 a financial profit was made.
Sky Deutschland currently has 2.73 million subscribers. To reach break-even, at least 3 million customers are needed. Tomsic declined to say when this could be the case. He said that Sky would give a new outlook at the presentation of its half-year figures on 12 August 2011.