BSkyB Will Appeal Competition Commission Ruling on ITV Stake

19 February 2008

ISLEWORTH, UK: NewsCorp-controlled UK satellite services provider BSkyB has decided to appeal the Competition Commission's  recommendation that it reduce its holding in ITV from the present level of 17.9% to no more than 7.5%. 

BSkyB acquired the controversial holding in December 2006, via an overnight swoop that successfully scuppered a mooted merger between ITV and Virgin Media.

Sky declined to make an official comment but a cooperative mole volunteered: "We think the Competition Commission got it wrong at every key step leading to this decision."

Sky will challenge the Commission's proposed solution, offering instead to place its shares in a blind trust, thereby limiting its ability to influence shareholder votes.

"On this occasion we think Sky has a small, but not negligible, chance of success," opined Chris Goodall of Enders Analysis.

Data sourced from Financial Times; additional content by WARC staff