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BSkyB loses appeal ruling
DATELINE: 17/12/08
BSkyB has lost another stage in its battle to hold on to a controversial 17.9% stake in ITV. The pay-TV satellite broadcaster, which acquired the ITV stake for £940m in November 2006, lodged an application with the Competition Appeal Tribunal at the end of November, for leave to appeal an order to sell its stake to less than 7.5%.
On 4 December the Tribunal refused the appeal on the grounds that the appeal had no real prospect of success and there were no other compelling reasons to allow it to go forward.
Writing in the Financial Times on 5 December, Ben Fenton, the paper’s chief media editor stated that; ‘Some observers believe that BSkyB wants to extend the process in the hope of a recovery in ITV share price or the appearance of someone keen to buy the whole of the commercial broadcaster, using the 17.9 per cent stake as a springboard.
One person familiar with the situation said that BSkyB could request a full hearing of its appeal with the higher court if it was turned down without one.’
Last modified: Thursday, December 18, 2008
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Previous stories
Media Ownership
Appeals tribunal rules BSkyB must sell ITV stake
Tribunal to rule on BSkyB's ITV stake
TUC condemns erosion of civil liberties and press freedom
Media Ownership in the Age of Convergence
Lords take stand against media barons
BBC Trust concludes its review of bbc.co.uk
Murdoch company tried on sabotage allegations
Sky and Virgin go to law
Lords Probe Media Ownership and News - Part 2
BSkyB and ITV
BSkyB and ITV
Campaign welcomes government ruling on ITV shares
Murdoch: Sky News should be like Fox
Murdoch and ITV
BSkyB 'should sell shares in ITV'
Internet Television
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New inquiries into ownership
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