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| Version 0 | Version 1 |
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| BSkyB may have to sell ITV shares | BSkyB may have to sell ITV shares |
| (20 minutes later) | |
| The Competition Commission has recommended that BSkyB should be forced to sell some of its 17.9% stake in rival broadcaster ITV. | The Competition Commission has recommended that BSkyB should be forced to sell some of its 17.9% stake in rival broadcaster ITV. |
| The regulator's report says that BSkyB should either sell all of its shares or cut its stake to below 7.5% and promise not to take a seat on ITV's board. | |
| BSkyB says that it has not sought to influence ITV and bought the shares as an investment. | BSkyB says that it has not sought to influence ITV and bought the shares as an investment. |
| But Virgin Media accused BSkyB of effectively blocking an ITV takeover. | But Virgin Media accused BSkyB of effectively blocking an ITV takeover. |
| The government has 30 days to comment on the report's findings. | The government has 30 days to comment on the report's findings. |
| The commission found that BSkyB's stake would be big enough to allow it to block special resolutions and that it "would limit ITV's strategic options, for example its ability to raise funds". | |
| It also decided that there would be an effect on ITV's programming. | |
| "Given its interests as a competitor and despite its interests as a shareholder, we believed that BSkyB would have the incentive to reduce ITV's investment in content," the report said. | |
| But in terms of news coverage, the report concluded that BSkyB's stake would not allow it to exert significant influence over ITV's news output or over ITN, in which ITV holds a 40% stake. |