Sky to mount legal challenge regarding ITV

It must come as no surprise that Sky would not just sit back and be told what to do by the Competition Commission, and they will as Sky intend to launch a legal case against the ruling that they must reduce their shareholding in the commercial TV channel ITV.

They will first call upon the Appeal Tribunal to overturn the original ruling ageing that there had been some fundamental mistakes at certain stages, the first being that the original share purchase was actually a merger between to the two companies and because of the holding this would stop ITV from being competitive and independent.

But even the ruling is upheld, Sky still believe that the penalty is unnecessarily high and that having to reduce their holding right to below 7.5% is unreasonable. For Sky this whole deal has been headache, not only have they got this case to deal with, they also lost a huge amount of capital as the share price ITV went down, the sooner that this is sorted out the better it would be for all.