Speaking at the company's interim results presentation on Friday, Ball said that the company was planning a new version of Sky One later this year.
Ball revealed no further details about the new channel, but it is expected to broadcast programmes taken from the main Sky One channel, in a similar way to Sky One Mix, which it launched earlier this year.
Sky One Mix, available exclusively to Sky Digital subscribers, repeats programmes from the main channel, giving viewers a second chance to see their favourite Sky One shows, such as 'Buffy the Vampire Slayer', 'Enterprise' and 'Alias'. The new channel is expected to come in a similar format with some new shows.
Reports have suggested that the channel could eventually be broadcast on Freeview, but this was also said about Sky One Mix. Currently, the only Sky channels available on Freeview are Sky News, which the company is forced to offer free-to-air because it is competition to the BBC's free channel News 24, and Sky Sports News.
According to Ball, Sky One is performing well, having "grown its share 8%".
Launching brand extensions is a cost-effective way of increasing revenues without having to pay extra for new content. Since Sky One Mix launched in December, the combined share of Sky One-branded channels in multichannel homes has increased by 4.5%.
Ball said, however, that the company is not going to "throw money at the channel".
The company hired Dawn Airey last year as managing director of its Sky Networks division. She is expected to launch a raft of channels, including three music channels later this year.
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