BSkyB Offers To Cede 3% Of ITV Voting Rights

Law360, New York (October 29, 2007, 12:00 AM EDT) -- In an effort to appease regulators who have raised a red flag about its holding in broadcaster ITV PLC, British television company BSkyB Corporation PLC has offered to surrender some of the voting rights derived from its 17.9% share in the company.

Rupert Murdoch-controlled BSkyB said at the end of last week that it would put 3% of its holdings in a trust operated by an independently acting trustee. This “respected institutional trustee” would vote separately from BSkyB, the company said in its proposal, published on...
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