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21st Century Fox hit by Sky Italia, Sky Deutschland costs
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High programming costs for Sky Italia and Sky Deutschland hit 21st Century Fox’s performance in the first quarter, with the media giant reporting operating income before deprectiation and amortisation down from US$91 million in 2013 to US$58 million.
The company was hit by costs to Sky Italia related to the Sochi Winter Olympics and Sky Deutschland’s Bundesliga football rights costs.
Sky Italia’s subscriber base remained flat about about 4.75 million, while Sky Deutschland saw its base rise by 64,000 to 3.73 million.
In TV production, 21st Century Fox was boosted by the sale of series including 24 and The Americans to amazon, offset by theatrical launch costs related to the movie Rio 2.
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