BSkyB profits make up for 'Times' losses

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The Independent Online
(First Edition)

CUTS OF 15p and 5p in the price of the Times and Sun newspapers are boosting circulation but hurting profits at Rupert Murdoch's News International group. However, a big surge in profitability at British Sky Broadcasting, the satellite broadcaster half owned by News International, has more than compensated for the fall.

The price reductions are costing Mr Murdoch an estimated pounds 250,000 a day. Operating profits at News International fell pounds 26m in the last six months of 1993 - a figure probably flattered by a modest increase in advertising revenues attributable, in part, to higher circulations.

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