Media
NTL: Sky's ITV stake "not in public interest"
Published Tuesday, Nov 21 2006, 15:39 GMT | By James Welsh
NTL has announced it is "considering all of its options" after its merger proposal was rejected this morning.
The cable operator also launched an attack on Sky after it bought a 17.9% stake in the broadcaster on Friday. In a statement, the company said:
"NTL has noted BSkyB's acquisition of a stake in ITV, which provides BSkyB with material influence over ITV, Freeview and the UK media.
"NTL also notes ITV's subsequent announcement that it has rejected an initial approach made prior to BSkyB's stakebuilding exercise. ITV has made no effort to engage in further discussions with ntl since that initial approach.
"Regardless of public statements by BSkyB, its holdings in ITV will reduce competition and raise plurality concerns in the UK media market. This is clearly not in the public interest."
Earlier this afternoon, communications regulator Ofcom indicated it was considering whether Sky's stake in ITV amounts to a "change in control" of one or more of ITV's Channel 3 broadcasting licences.
The cable operator also launched an attack on Sky after it bought a 17.9% stake in the broadcaster on Friday. In a statement, the company said:
"NTL has noted BSkyB's acquisition of a stake in ITV, which provides BSkyB with material influence over ITV, Freeview and the UK media.
"NTL also notes ITV's subsequent announcement that it has rejected an initial approach made prior to BSkyB's stakebuilding exercise. ITV has made no effort to engage in further discussions with ntl since that initial approach.
"Regardless of public statements by BSkyB, its holdings in ITV will reduce competition and raise plurality concerns in the UK media market. This is clearly not in the public interest."
Earlier this afternoon, communications regulator Ofcom indicated it was considering whether Sky's stake in ITV amounts to a "change in control" of one or more of ITV's Channel 3 broadcasting licences.
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