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BSkyB Told To Cut ITV Stake For Competition's Sake

Law360 (January 29, 2008, 12:00 AM EST) -- The U.K. government has ordered British Sky Broadcasting Group Plc to shed its stake in ITV Plc, following a report by the country's antitrust watchdog that found Rupert Murdoch's interest in the broadcaster substantially threatened competition in the television industry.

Secretary of State for Business and Enterprise John Hutton announced his decision Tuesday, ruling the satellite-TV broadcaster must reduce its 17.9% holding in ITV to below 7.5% and agree not to have a representative sit on the board of the company.

In ruling as he did,...
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