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| Version 4 | Version 5 |
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| Sky deal: James Murdoch faces shareholders at annual meeting | Sky deal: James Murdoch faces shareholders at annual meeting |
| (about 1 hour later) | |
| James Murdoch is poised to defend his position as Sky's chairman at its annual shareholder meeting on Thursday. | James Murdoch is poised to defend his position as Sky's chairman at its annual shareholder meeting on Thursday. |
| A trio of advisory firms have called on shareholders to vote against his re-election, objecting to Mr Murdoch's position as both chairman of Sky and chief executive of 21st Century Fox. | |
| Fox is attempting to buy Sky, which investors argue presents a conflict of interest for Mr Murdoch. | Fox is attempting to buy Sky, which investors argue presents a conflict of interest for Mr Murdoch. |
| One investor, Royal London criticised the dual position as "inappropriate". | One investor, Royal London criticised the dual position as "inappropriate". |
| However, a Sky spokeswoman said Mr Murdoch was "uniquely well-placed" to be chairman, saying he had "deep knowledge of the global media industry". | However, a Sky spokeswoman said Mr Murdoch was "uniquely well-placed" to be chairman, saying he had "deep knowledge of the global media industry". |
| Both 21st Century Fox and News Corp, which owns newspapers including The Times and the Sun, are controlled by media mogul Rupert Murdoch. | |
| Fox bid for Sky faces competition probe | Fox bid for Sky faces competition probe |
| The issues surrounding the Fox-Sky deal | The issues surrounding the Fox-Sky deal |
| Royal London, which owns a stake worth £44m, has raised its concern over Mr Murdoch's position. | Royal London, which owns a stake worth £44m, has raised its concern over Mr Murdoch's position. |
| "Minority shareholders at Sky would be better served by a truly independent chairman," said Ashley Hamilton Claxton, the firm's corporate governance manager. | "Minority shareholders at Sky would be better served by a truly independent chairman," said Ashley Hamilton Claxton, the firm's corporate governance manager. |
| "Independent oversight of the board is particularly important given Fox's ongoing bid to acquire Sky." | "Independent oversight of the board is particularly important given Fox's ongoing bid to acquire Sky." |
| The Institute of Directors supports that view. Its director-general, Stephen Martin, said: "The issue is the lack of independence. James is in a difficult situation because he is chief executive of the controlling shareholder and also he's the chairman of Sky so there is a conflict, potentially, there." | |
| Three advisory groups - Institutional Shareholder Services, Glass Lewis and Pirc - are urging shareholders to vote against Mr Murdoch's re-election and executive pay at the company. | Three advisory groups - Institutional Shareholder Services, Glass Lewis and Pirc - are urging shareholders to vote against Mr Murdoch's re-election and executive pay at the company. |
| Royal London's Ms Claxton said the current remuneration arrangements were "unnecessarily complex" and could lead to "unacceptably high" levels of executive pay. | Royal London's Ms Claxton said the current remuneration arrangements were "unnecessarily complex" and could lead to "unacceptably high" levels of executive pay. |
| Sky's spokeswoman said: "We have one of the lowest levels of fixed pay in the FTSE 100 and shareholders have continuously voted in favour of the policy since 2014." | Sky's spokeswoman said: "We have one of the lowest levels of fixed pay in the FTSE 100 and shareholders have continuously voted in favour of the policy since 2014." |
| More than 28% of shareholders voted against Mr Murdoch's comeback as chairman last year. However, 53% of shareholders independent of the Murdoch family voted against his re-election. | |
| Profits up | Profits up |
| Fox's bid to buy the 61% stake in Sky which it does not already own is now the subject of a Competition and Markets Authority investigation. | Fox's bid to buy the 61% stake in Sky which it does not already own is now the subject of a Competition and Markets Authority investigation. |
| Telecoms regulator Ofcom earlier has said the deal risks giving the Murdoch family "increased influence" over the UK's news agenda and political process. | Telecoms regulator Ofcom earlier has said the deal risks giving the Murdoch family "increased influence" over the UK's news agenda and political process. |
| Sky's latest results showed sales in the three months to 30 September - the first quarter of its financial year - rose 5% to £3.3bn with underlying profits up 11% to £582m. | |
| The company added 160,000 new customers in the quarter, which was up more than 50% than a year earlier. | The company added 160,000 new customers in the quarter, which was up more than 50% than a year earlier. |
| TV audiences were boosted by the latest season of Game of Thrones where, in the UK, it attracted a record 4.7 million viewers. | TV audiences were boosted by the latest season of Game of Thrones where, in the UK, it attracted a record 4.7 million viewers. |
| Sky shares made modest gains, up 1.6% at 928p. That is still below the price of £10.75 per share that Fox offered for Sky when it made its bid back in December of last year. |