2249 GMT - New Zealand satellite TV and streaming company Sky Network Television could reach breakeven on an ebitda basis for its planned broadband service relatively quickly, Macquarie believes. Sky can capitalize on an existing large number of customers and its existing marketing and billing systems while competing on price, the bank says, after building broadband rollout assumptions into its forecasts for Sky. Macquarie expects Sky to start offering broadband to its premium satellite customers in late 1Q of calendar 2021, calling the broadband play a correct decision "albeit many years late." Sky shares are the NZX-50's worst performer this year, down 56%, as investors wait for firmer signs of a business turnaround. (stephen.wright@wsj.com)
(END) Dow Jones Newswires
November 25, 2020 17:49 ET (22:49 GMT) |
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