Sky Shareholders Approve Reappointment of James Murdoch as Chairman

13 October, 2017, 00:35 | Author: Warren Cooper
  • AM ET CMA Outlines Review of 21st Century Fox  Sky Deal Will be looking at diversity of voices broadcast standards

Martin Gilbert, the deputy chair, said the board had looked at the Fox takeover in the best interests of shareholders and had impartial discussions that did not include Murdoch or other Sky directors with connections to Fox.

Royal London, which holds a 44 million pound ($58 million) stake in Sky, was one of the investors which planned to vote against James Murdoch's re-election, saying he could not effectively represent independent shareholders while he was chief executive of Fox. It also said executive pay at Sky was too complex and that bosses could receive huge payouts if the Fox deal goes through.

Some investor groups had expressed unease over him serving longer, in light of James being also chief executive of 21st Century Fox - which is seeking to buy the 61 percent of Sky it does not already own.

Nearly 22 percent of all shareholders opposed Mr Murdoch and 48.5 percent of independent shareholders.

In response to the question about the Fox News scandal, Darroch said the "whole board are incredibly supportive and behind Sky" and that it wanted to make a "broader contribution" to society.

In response, Martin Gilbert, Sky's deputy chairman, pointed out that Sky's board had formed an independent committee to evaluate the terms of 21st Century Fox's takeover, which he said had met 11 times since the takeover approach was tabled in December a year ago.

They claimed that, because Fox is now trying to buy full control of Sky, he could not be a completely independent chairman of the latter.

Trump has 'lit the wick of war,' North Korean official says
Deputy Secretary of State John Sullivan on October 18 in Seoul, according to Seoul's foreign ministry. He also boasted that his nation has nearly achieved a "balance of force" with the U.S.

UK's Competition and Markets Authority (CMA) has set out more details about what it intends to examine in its investigation into the proposed takeover of Sky Plc by 21st Century Fox, which owns STAR India.

Earlier, Sky reported what were regarded by City analysts as strong results for the first three months of its financial year.

Mr Darroch said it was a strong start to the new financial year: "Against the backdrop of pressure on consumer spending and lower spend on United Kingdom television advertising, we were particularly pleased with our own EBITDA growth of 15% in our established business".

According to the statement it released today, European production business is a key priority for growth and the company will be investing 25% more in Sky Originals programming across its territories this year.

He said the company was seeing good demand for its flagship Sky Q product as well as for its streaming service Now TV.

The group said Game Of Thrones was its "most-watched series ever", while it also hailed home-grown series Riviera after it notched up 20 million downloads.

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