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BSkyB ordered to pay out legal costs
THE Competition Appeal Tribunal (CAT) has ordered BSkyB to pay the government and Competition Commission’s legal costs associated with the broadcaster’s appeal to keep its 17.9 per cent stake in ITV.
BSkyB is fighting an ongoing battle to retain the stake, which it bought for £940m in 2006. The deal blocked a potential takeover of ITV by rival pay-TV company Virgin Media.
A forced sale would cost BSkyB dear, with ITV shares worth 75 per cent less now than when it bought them. The legal costs would not be set until after the appeal process has ended.
Separately, the CAT refused an appeal by Virgin Media for BSkyB to fund £117,327 legal costs, relating to its failed takeover of ITV.