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General News

Sky high losses recorded at BSKYB

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Dec 31, 1899 | 7:00pm EST

Reporting staggering losses of $520 million during the first nine months of its current fiscal year, BSkyB, the News Corp-controlled British satellite TV service. said Wednesday that it will attempt to cut costs by laying off 300 workers. The company blamed its losses on the increasing burden of converting to a digital service and the spiraling costs of acquiring broadcast rights to movies and sports events.

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