Tuesday, January 29, 2008

A small price to pay for BSkyB

The decision by the government to force the broadcaster to sell its share in Itv from 17.5 % to below 7.5% may ,on reflection, not be a bad piece of business for the Murdoch clan.

Although it is estimated that if they sell at the present time they could lose up to £300m,that is waht is cost them to keep Virin Media at bay.In the long term it could be seen as a good bit of business.

Guardian media reports that

ITV said today that it "warmly welcomed" Hutton's decision, which was widely expected following the commission's ruling.
"We believe this decision is in the best interests of the overwhelming majority of our shareholders," the company said in a statement.
BSkyB said: "The company will give careful consideration to the announcement and confirm any further steps in due course.

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