BSkyB Buys 17.9% of ITV PLC

British Sky Broadcasting Group plc ('BSkyB') announces that it has
acquired a stake in ITV plc ('ITV'). BSkyB has today acquired 696
million shares, representing 17.9 per cent of the issued share capital
of ITV, at a price of 135 pence per share. The total consideration
amounts to approximately GBP 940 million, which will be funded from the
group's existing cash balances and its currently undrawn revolving
credit facility.

BSkyB wishes to explore options to create value in the interests of both
BSkyB's and ITV's shareholders. BSkyB believes that ITV is one of
Europe's premier broadcasting and production businesses, and holds
substantial potential for long-term value creation. This acquisition of
shares has taken place without the prior knowledge of the ITV board of
directors, but BSkyB has today communicated to ITV's board its intention
to be a supportive shareholder.

BSkyB has no intention of acquiring shares that would result in BSkyB's
stake exceeding 19.9 per cent or making an offer for the whole of ITV's
remaining share capital.

BSkyB notes that under Section 350(3) and Schedule 14 of the
Communications Act 2003, BSkyB is prohibited from controlling an
interest of more than 20 per cent
in ITV plc.

A conference call for analysts and investors will be held at 18:00 p.m.
(GMT) today. The dial-in number is +44 20 7162 0025.

http://phx.corporate-ir.net/phoenix....rint&ID=932596


--
Items for sale: www.dodgy-dealer.co.uk

"{{{{{Welcome}}}}}" wrote in message
k...
British Sky Broadcasting Group plc ('BSkyB') announces that it has
acquired a stake in ITV plc ('ITV'). BSkyB has today acquired 696 million
shares, representing 17.9 per cent of the issued share capital of ITV, at
a price of 135 pence per share. The total consideration amounts to
approximately GBP 940 million, which will be funded from the group's
existing cash balances and its currently undrawn revolving credit
facility.

BSkyB wishes to explore options to create value in the interests of both
BSkyB's and ITV's shareholders. BSkyB believes that ITV is one of Europe's
premier broadcasting and production businesses, and holds substantial
potential for long-term value creation. This acquisition of shares has
taken place without the prior knowledge of the ITV board of directors, but
BSkyB has today communicated to ITV's board its intention to be a
supportive shareholder.

BSkyB has no intention of acquiring shares that would result in BSkyB's
stake exceeding 19.9 per cent or making an offer for the whole of ITV's
remaining share capital.

BSkyB notes that under Section 350(3) and Schedule 14 of the
Communications Act 2003, BSkyB is prohibited from controlling an interest
of more than 20 per cent
in ITV plc.

A conference call for analysts and investors will be held at 18:00 p.m.
(GMT) today. The dial-in number is +44 20 7162 0025.

http://phx.corporate-ir.net/phoenix....rint&ID=932596

Basic crap saying "Sky will continue to block ITV from going FTA as the BBC
did"

Thus spaketh The Wizard:
"{{{{{Welcome}}}}}" wrote in
message k...
British Sky Broadcasting Group plc ('BSkyB') announces that it has
acquired a stake in ITV plc ('ITV'). BSkyB has today acquired 696
million shares, representing 17.9 per cent of the issued share
capital of ITV, at a price of 135 pence per share. The total
consideration amounts to approximately GBP 940 million, which will
be funded from the group's existing cash balances and its currently
undrawn revolving credit facility.

BSkyB wishes to explore options to create value in the interests of
both BSkyB's and ITV's shareholders. BSkyB believes that ITV is one
of Europe's premier broadcasting and production businesses, and
holds substantial potential for long-term value creation. This
acquisition of shares has taken place without the prior knowledge of
the ITV board of directors, but BSkyB has today communicated to
ITV's board its intention to be a supportive shareholder.

BSkyB has no intention of acquiring shares that would result in
BSkyB's stake exceeding 19.9 per cent or making an offer for the
whole of ITV's remaining share capital.

BSkyB notes that under Section 350(3) and Schedule 14 of the
Communications Act 2003, BSkyB is prohibited from controlling an
interest of more than 20 per cent
in ITV plc.

A conference call for analysts and investors will be held at 18:00
p.m. (GMT) today. The dial-in number is +44 20 7162 0025.

http://phx.corporate-ir.net/phoenix....rint&ID=932596

Basic crap saying "Sky will continue to block ITV from going FTA as
the BBC did"


ITV is currently FTA though.

{{{{{Welcome}}}}} wrote:

BSkyB is prohibited from controlling an
interest of more than 20 per cent
in ITV plc.

I bet that annoys them.

--
Digibox problem? : A reboot solves 90% of these.
The Sky Digital FAQ: http://tinyurl.com/8vef5
UK TV overseas: http://tinyurl.com/6p73
BBC/ITV reception trouble? ; http://www.astra2d.com/
----
Only the truth as I see it.
No monies return'd. ;-)

Galaxy Guy wrote:
Investors in ITV will be irate when they see that the company which was
worth 116p
when the Stock Market closed on Friday sinks in value because Sky was
so desperate
to prevent competition that it paid 135p a share to secure their 17.9%.
Yet again the small investor has had value removed from their stocks by
big players and that isn't fair.
As regards encryption, ITV and all the ITV regional companies plus ITV1
2, 3 and 4
are all FTA/FTV, for every viewer in just the same way as the BBC.
Sky will be very keen to apply Videoguard encryption again. The
shareholders, the regulators
and the public at large must fight to stop ITV becoming part of an
encrypted Sky stable.
Digital satellite viewers in the UK deserve choice and currently have
it; it appears that
behind our backs and after trading hours are over that Sky pulled the
rug on RTL (who would
have been the most serious bidder) from acquiring the company. Sky has
done this as a
spoiling exercise which btw will add further revenues to them over the
long term.
This was not fair play at all.

"galaxyguy" wrote in message
oups.com...
Galaxy Guy wrote:
Investors in ITV will be irate when they see that the company which was
worth 116p
when the Stock Market closed on Friday sinks in value because Sky was
so desperate
to prevent competition that it paid 135p a share to secure their 17.9%.
Yet again the small investor has had value removed from their stocks by
big players and that isn't fair.
As regards encryption, ITV and all the ITV regional companies plus ITV1
2, 3 and 4
are all FTA/FTV, for every viewer in just the same way as the BBC.
Sky will be very keen to apply Videoguard encryption again. The
shareholders, the regulators
and the public at large must fight to stop ITV becoming part of an
encrypted Sky stable.
Digital satellite viewers in the UK deserve choice and currently have
it; it appears that
behind our backs and after trading hours are over that Sky pulled the
rug on RTL (who would
have been the most serious bidder) from acquiring the company. Sky has
done this as a
spoiling exercise which btw will add further revenues to them over the
long term.
This was not fair play at all.

Quite and good to see on ITV news tonight that Murdoch might have to hand
the shares back.

Serves him right for trying in on with a BRITISH guy, He should be bogged
off back to Australia never to return!!

Galaxy Guy replied

It has appeared over the weekend that NTL's bid for ITV may have been
more serious
or more advanced than the thoughts from RTL. NTL imho ought not to be
in the frame
over the future of ITV. NTL does not have an unenviable reputation with
past and present
customers and it has a less than perfect financial background. Without
understanding the
'language' I believe their Standard and Poor's credit rating is B-
[something of that sort].
The share value did collapse 5% during Monday but rallied in a good
market on that day.
ITV has been a UK commercial TV company for over 50 years and has
delivered some
excellent programmes, especially regionally and more especially in the
past. It deserves
a secure future and it doesn't deserve to be bought up by private
equity groups who would
take it off the Stock Market. UK viewers ought to have as much right to
a a few shares in it
as Germans do in RTL and Americans in NTL.
Even if the regulator's approve Sky's 17.9% ownership, there still
remains 80% of the company free of their influence. It is sad to see a
British company like this being 'picked over' and probably 'downvalued'
so it can be bought cheaply. Over the last few years
the attitude given to us mere 'proles', is that everything can be
bought and obtained
at a discount to its true value; it's a very American 'free market'
attitude and yet when ITV
was founded there were very secure rules written to keep it regional
and prevent undue
ownership control. I think that Ofcom is due tocome out with a raft of
views this month
regarding the 'digital' move and BBC issues. It would be good if we
learnt from the French
(in the case of Danone/US soft drink firm) and we stood up and said
some UK institutions
ought to remain British, or at least European owned. TV represents our
culture and it is
already undermined too heavily by one rich country. ITV is still a
major UK Broadcasting
player and I trust that events will turn out favourably for viewers and
for all those who
built up such a strong national station since 1955.

ITV to re-encrypt and go back to FTV maybe?