BSkyB to Carefully Consider Competition Appeal Tribunal's Judgment

Date : 08/08/2012 @ 1:57PM
Source : Dow Jones News
Stock : News Corp. (MM) (NWSA)
Quote : 13.15  0.03 (0.23%) @ 4:05PM

BSkyB to Carefully Consider Competition Appeal Tribunal's Judgment

BSkyB (LSE:BSY)
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LONDON--British Sky Broadcasting Group PLC (BSY.LN), said Wednesday that it will give careful consideration to the full judgment of the Competition Appeal Tribunal or CAT, when it is made available.

MAIN FACTS:

-At present, it has access only to the CAT's summary of its principal findings and conclusions.

-Notes announcement by the CAT of its judgment on the various appeals of Ofcom's decision to impose a Wholesale Must Offer obligation in respect of Sky Sports 1 and Sky Sports 2.

-Welcomes the CAT's confirmation that Ofcom's competition concerns in relation to the wholesale supply of Sky Sports are unfounded and that, contrary to Ofcom's analysis, the evidence shows that Sky has engaged constructively with other distributors over the supply of its premium channels; This finding supports the argument that Sky has been making consistently over the last five years.

-Welcomes the CAT's conclusion that the existing commercial terms of supply, particularly in relation to Sky's wholesale rate card, do not obstruct fair and effective competition in the retailing of Sky Sports across platforms.

-BSkyB shares closed Wednesday at 743. 0 pence, valuing the company at GBP12.38 billion.

-Write to Razak Musah Baba at razak.baba@dowjones.com

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