RICHARD BRANSON - U.K. REGULATORS TELL BSKYB TO SELL ITV STAKE

British regulators have ordered News Corp-controlled BSkyB to cut its stake in ITV to 7.5 percent from its current 17.9 percent. Since acquiring the ITV holdings in 2006, BSkyB has seen them fall roughly by half. Forced to sell at current prices, it could lose about $500 million. BSkyB has until February 25 to file an appeal; it has not indicated whether it will do so. At the time the shares were purchased, Virgin Media chief Richard Branson had charged that BSkyB was attempting to block his bid to take over ITV by artificially boosting its share price.

29/01/2008