Feeds

Sky must sell off ITV stake

Expensive mistake

Choosing a cloud hosting partner with confidence

BSkyB has been told to sell off most of its stake in rival broadcaster ITV.

John Hutton, secretary of state for business and enterprise, has told BSkyB to reduce its stake in ITV from 17.9 per cent to below 7.5 per cent.

Hutton is following the advice of the Competition Commission which said in December that the cross-ownership would inevitably reduce competition between the two.

Sky should sell off the stake - not to someone associated with Sky - and not seek to buy more shares or get a seat on the board.

No timetable was released for the proposed sale which is likely to cost Sky dear because ITV's share price has fallen some 30 per cent since November 2006. The government decided not to release the timetable for the sale after a request from Sky. ITV argued the opposite - that the timetable should be public - Hutton decided not to release the information. ®

Internet Security Threat Report 2014

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.