Sky Television Says Igloo Will Show Full-Year Loss in 2012

Sky Network Television Ltd. (SKT), New Zealand’s largest pay television company, said its new Igloo service will make a loss in the 2012 year.

The new service offers free-to-air channels and the option of 11 pay channels which customers can buy on a monthly pre-pay basis, the Auckland-based company said in a statement. Sky has a 51 percent stake in the service and its share of the net loss will be NZ$1.6 million in 2012. Television New Zealand will own 49 percent.

Sky forecasts about 50,000 subscribers will join the service by the end of 2012. Customers require a set-top box which is expected to sell at retail outlets for less than NZ$200, the company said.

The pay channels on offer include Food TV, BBC World News, Comedy Central and the National Geographic Channel. Sports and movies will be available on a pay-per-view basis, Sky said.

To contact the reporter on this story: Tracy Withers in Wellington at twithers@bloomberg.net

To contact the editor responsible for this story: Chris Bourke at cbourke4@bloomberg.net

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