BSkyB records net loss due to ITV write-down
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British pay-TV giant BSkyB on Wednesday posted a net loss in the first half of its financial year as the group booked a hefty charge on the dwindling value of its 17.9-percent stake in broadcaster ITV.
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An independent production company was to blame for the blunder that led to the BBC apologising to the Queen, the corporation has revealed.
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The British Broadcasting Corporation is cutting nearly 3,000 jobs in a drive to reduce costs. Mark Thompson, director-general of the BBC, told staff members Tuesday that 2,500 jobs
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ITV is bracing itself for a penalty of up to Â£2.8m for the GMTV call-TV scandal.
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ITV, Britain's biggest commercial television network, announced Wednesday that net profit declined last year and it forecast further falls in crucial advertising revenues.
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The recording company reported a first-quarter loss of $16 million, hurt by higher expenses and an impairment charge.
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UK satellite broadcaster BSkyB BSY.L   has temporarily shut down its fledgling broadband film service   after software provided by Microsoft MSFT.O was cracked,   enabling the digital protection to be stripped.
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Media & professional: Channel 4 may still have to refund up to Â£2.35m to viewers affected by phone quiz scandal despite protesting to regulator.
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By TONY McDONOUGH Deputy  MORE than 100,000 cable TV viewers across Merseyside could see up to five Sky TV channels disappear from their screen in the next few days following a row between Virgin Media and BSkyB.
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Â· Charity donations take total bill to Â£2.5mÂ· Broadcaster to sue telephone services firm
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A review is ordered into premium rate phone lines used by the BBC after errors are revealed.
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Britain&#39;s biggest commercial broadcaster  ITV said on Wednesday the performance of its main channel had  begun to stabilize as the decline in ratings slowed but  advertising revenue was still down 9 percent.
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The government ruled on Tuesday that media giant BSkyB must cut its holding in independent television broadcaster ITV to below 7.5 percent, as recommended by competition authorities.
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Annual profits at broadcaster ITV fall  as a result of a continuing decline in advertising revenues.
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British broadcaster ITV has rejected outright a 4.74-billion-pound approach from US cable operator NTL, arguing that it &quot;materially undervalues&quot; the company.
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The government rules that BSkyB must reduce its share holding in ITV from 17.9% to below 7.5%.
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HBOS said Thursday that economic turmoil connected to the global credit crunch has cost the group 180 million pounds.