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#Business: Fall in pre-tax profits by Sky .

Sky has reported a £12m fall in pre-tax profits to £524m for the six months to the end of December.

James Murdoch

The media company said 337,000 new customers joined Sky in the second quarter, its highest UK and Ireland customer growth for 10 years.

It was also announced that James Murdoch would become the chairman of Sky. He was previously chairman of what was then BSkyB.

Operating profits were their highest ever for a first half at £747m, up 12%.

But operating expenses were a hefty £223m - primarily the result of paying for financial adviser and "transaction fees" incurred as part of its buyout of the remaining minority shareholdings in Sky Deutschland and Sky Italia - which left pre-tax profits lower.
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