Airey rumoured to be quitting Sky

Sky Networks managing director Dawn Airey is reported to be leaving the satellite broadcaster when her contract ends, with speculation linking her to the launch of a "super-media company" called Iostar.

The new company, which was registered with Companies House last month, will produce and distribute TV and movies, as well deal in a range of sectors including advertising, celebrity management and music publishing.

Airey's contract with Sky is up for renewal next autumn. Airey told The Guardian last month: "I don't quite know what I'm going to do next. It will be in the creative industries and it may well surprise everyone. You won't guess in a month of Sundays. It's a new model."

London-based Iostar has been founded by former Hallmark executive Mark Grenside and former chairman of internet business Efdex, Tim Carron-Brown. Two other directors, Robert Goemans and John Horner, have also been listed.

Other names believed to be involved include actors Stephen Fry and Hugh Lawrie and West Park Pictures creative director, Andre Singer.

Sky has said it will not comment on speculation about its executives.