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November 18, 2008

BSkyB may challenge ITV holding decision

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by David Allen

When the appeal over the ITV shareholding went against BSkyB, they had until the 1st December to launch appeal. However, speculation is growing seems that the company may challenge the decision to reduce their holding in rival broadcaster ITV.

It all started when Virgin Media planned to buy ITV, with suggestions that BSkyB bought a 17.9% holding in ITV to stop Virgin Media from completely taking over the business. Virgin Media complained about the holding saying that BSkyB would be able to influence a rival broadcaster, hence the ongoing appearances in court.

If BSkyB do appeal this will prolong the battle which has hurt all concerned. After all, when BSkyB bought the ITV holding, they paid £1.35 per share, but currently the price of ITV shares stand at just £0.35, so it may be that BSkyB have little to lose by seeing this through to the end.

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