Sky Told To Sell Most of Its Holding in ITV

The UK government has ordered Sky (BSkyB), which owns nearly 18 percent of ITV, to sell most of its holdings in the network, but rumors are that Rupert Murdoch may fight the government’s ruling, which came after complaints by ITV and Virgin Media to the Competition Commission. ITV’s share price has dipped since Sky became a shareholder late in 2006. Read more here.