BSkyB Pie in the sky

James Murdoch, chief executive of BSkyB, says its customers have a «ton» to look forward to this year. But what about Sky investors? They certainly can’t complain about the latest forecast-busting results. In the three months before the end of last year, Sky added 215,000 new subscribers, thanks to heavy pre-Christmas marketing. That is much faster than anyone expected: consensus predicted 170,000. The growth was profitable too, despite an uptick in subscriber acquisition costs. That was thanks...