Sky Loses Appeal Over ITV Stake

LONDON: The Court of Appeal has ruled that BSkyB must sell its 17.9-percent interest in British broadcasting group ITV, backing an earlier decision by the Competition Commission.

In late 2006, Sky shelled out £940 million for a 17.9-percent interest in ITV. The Competition Commission, fearing a reduction in competition in the British market, later ruled that Sky would need to reduce its stake to no more than 7.5 percent. The satellite platform has made several attempts to appeal the decision. Responding to the ruling on its latest appeal, the company said: "We will review the judgment and order carefully and consider next steps in due course."

Sky could file a new appeal with the Supreme Court. Meanwhile, the platform is said to have received interest from possible buyers of the ITV stake.