BSkyB is preparing to write off as much as £250m of a £301m investment in new media company Sports Internet Group, according to reports. Confirmation of the loss is expected to be revealed when financial results for BSkyB are released next month.
Sky made the investment in the firm, which runs official websites for a number of Premier League football clubs, among other things, during May last year, when dotcom fever was at its height. When the summer internet slump came, the value of this investment rapidly declined.
BSkyB shares ended last week at £11.74, down 21p in a week on week analysis
