BSkyB should cut ITV stake below 7.5 pct: regulator
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Britain's pay-TV firm BSkyB  looked set for a costly climb-down after a regulator said it should sell more than half of its anti-competitive 17.9 percent stake in ITV .
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Regulator Ofcom criticises ITV over the way it reported Tony Blair's appearance on the Parkinson chat show.
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British bid-target ITV  has poached BBC Chairman Michael Grade as its new executive chairman, a major coup for the ailing commercial broadcaster and a heavy blow to the British Broadcasting Corporation.
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Britain's media regulator Thursday found Channel 4 television network guilty of showing ...
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Government orders Rupert Murdoch's network to sell down from 17.9% to 7.5%
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UK blue chips closed lower, off the day's highs, with a weak start on Wall Street, ahead of Thursday's Thanksgiving holiday, and fading bid hopes at ITV weighing on market sentiment, dealers said.
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BSkyB today looked set to pull its major channels from the Virgin Media cable network at the end of this month after talks collapsed between the two rivals.
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BSkyB offers to give up some voting rights in ITV as it tries to hold onto a stake in the television broadcaster.
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BSkyB, the satellite television company affiliated with the News Corporation, has bought a 17.9 percent stake in ITV, BritainÂs biggest commercial broadcaster, in a move that could thwart the ambitions of Richard Branson, the Virgin Group entrepreneur, to strengthen his position in the British media market. Mr. Branson had hoped to combine ITV with a cable company, NTL, in which he owns an 11 percent stake. The battle for ITV is rooted in a struggle for control of living rooms in Britain, which has one of the highest rates of digital TV and broadband Internet use in the world. BSkyB is the countryÂs biggest pay-TV operator, with more than eight million subscribers to its satellite system. NTL hoped to use the Virgin brand name and the ability to sell a Âquadruple playÂ of television, broadband, fixed-line phone service and cellphone service to gain an edge on Sky.
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ITV wants to reduce the number of regional newsrooms it operates from 17 to nine.
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By Rupert Steiner  BSKYB, Rupert Murdoch's satellite empire, stands to lose up to Pounds 60m (E89m, $117m) in its next financial year from its increasingly heated spat with Sir Richard Branson's Virgin Media group.
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BSkyB warns that its operating profit could be hit by up to Â£20m if it fails to reach a broadcasting deal with Virgin Media.
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Britain's Competition Commission has  recommended that pay-TV firm BSkyB reduce its 17.9 percent  stake in broadcaster ITV to below 7.5 percent because it is  anti-competitive.
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The British Broadcasting Corporation on Tuesday said it would cut about 2,900 jobs, more than 10 per cent of its workforce, as a part of &quot;transformation&quot; of the world&#39;s biggest public broadcaster, aimed at saving 320 million pounds a year.
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ITV, the biggest British commercial television network, on Wednesday forecast further falls in crucial advertising revenues after a poor 2006 -- a year in which it also got a new chief executive and faced a takeover bid.
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A ruling on BSkyB's controversial purchase of a stake in ITV is expected to be published on Thursday.
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Media & professional: DTI refers BSkyB's acquisition of 17.9% stake in ITV to Competition Commission.