20240429 Calibre April 2024 Investor Presentation.pdf
Sky italia
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3. Transaction Rationale Lucrative Market for Pay-TV Compelling and Secure Programming Benefits from Single Platform Experienced Pay-TV Operator
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5. All Key Movies and Sports On A Single Platform Basic Channels Major Studios Soccer Serie A 19 0% 9 teams 25 100% 9 teams 40+ 100% 18 teams Merger Creates Single Premium Content Platform Italia
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7. News Corporation – Experienced Pay-TV Operator BSkyB DTH Sub. Growth BSkyB Annual ARPU Over 6 million DTH subscribers at June 30, 2002 – on target to hit 7 million by end of 2003 (In Millions) £269 £287 £313 £347 4.5 5.5 6.1 3.5
8. News Corporation – Experienced Pay-TV Operator BSkyB Annual Churn % BSkyB Sub Acquisition Cost £250 £234 £210 2002 2003 2001 1998 1999 2000 2001 2002 Est. Italian Market BSkyB
9. (in € millions except subs) 2003 2004 2005 2006 Average Subs. (in 000’s) 2,187 2,769 3,225 3,535 Revenues 1,172 1,627 1,987 2,260 Programming Costs 876 995 1,007 959 Operating Income (342) - 342 675 Operating Cash Flow (378) 83 325 672 Lease Repayments 39 24 4 - Net Cash Flow (471) 16 263 602 Summary Calendar Year Financial Projections Peak Funding Complete After Year One
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12. (in € millions except subs) 2003 2004 2005 2006 Average Subs. (in 000’s) 2,187 2,769 3,225 3,535 Revenues 1,172 1,627 1,987 2,260 Programming Costs 876 995 1,007 959 Operating Income (342) - 342 675 Operating Cash Flow (378) 83 325 672 Lease Repayments 39 24 4 - Net Cash Flow (471) 16 263 602 Summary Calendar Year Financial Projections Peak Funding Complete After Year One
13. Key Assumptions 2002E ( 1) 2003E 2004E 2005E 2006E Average Subs (in 000s) 2,177 2,187 2,769 3,225 3,535 Churn Rate 20.5% 19.5% 17.0% 15.0% 14.0% ARPU € 35 € 38 €42 €45 €47 Subs driven by compelling consumer offering and piracy elimination Churn reduced through improved customer service (1) Estimated combined Stream and Telepiu at 12/31/02. Italia
![Pro-Forma Ownership Structure News Corp. and Telecom Italia to Merge Stream and Telepiu to Create a Single Pay-TV Platform in Italy ,[object Object],[object Object],[object Object],[object Object],Italia 80% 20% News Corporation Creates THE Pay-TV Platform in Italy Italia Creates THE Pay-TV Platform in Italy Italia](https://image.slidesharecdn.com/skyitaliapresentation-100803200225-phpapp01/85/Sky-italia-1-320.jpg)
![Summary of Proposed Transaction Effective Purchase Price Per Sub €300 ,[object Object],[object Object],[object Object],Italia ,[object Object],[object Object],[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)