Information on Loughborough

Local MP welcomes decision

Posted on 30/01/2008
P. Klein

satellite dish

Andy Reed today welcomed the government’s decision to uphold the competition commissions finding that BskyB needs to reduce it stake in ITV to 7.5%. Andy a signatory to the Early Day Motion in Parliament calling for the Competition Commission’s decision to be upheld is happy that the government today has announced it decision to implement the recommendation and force BskyB to divest shares.

John Hutton today told BskyB that it must sell some of its shares so as to reduce it holding to 7.5% following the recommendations of the Competition Commission.

Andy supports the decision and the conclusions of the Competition Commission that BskyB’s current holding of 19.9% was not in the public interest and that it has substantially lessened the competition in the television market. Andy now calls on BskyB to divest it shares in ITV without any undue delay.

Andy says “we need to ensure that competition exists in the industry so as to keep high quality programmes being produced in a competitive environment. I welcome the decision of the government and hope that BskyB will quickly sell off it shares and returns the market to a more competitive state.”