Another blow has been dealt to the satellite broadcaster BSkyB over the share holding in rival broadcaster ITV.
The competition appeal tribunal have already ruled that BSkyB should make plans to reduce their holding in ITV.
Yet almost directly after the case was heard, it seemed likely that BSkyB would appeal against the decision, claiming that they are a long term investor in ITV and will not be forced to cut back their stake in the company.
Now it seems that the competition appeal tribunal have refused BSkyB the opportunity to appeal against the decision at the court of appeal.
It seems that there are not many avenues left for BSkyB, although they have indicated that they do not intend giving up on ITV just yet.
BSkyB paid £1.35 per share when they first bought shares; the share price is currently 36p!