Sky Chairman James Murdoch Steps Down as Comcast Offer Becomes Unconditional
09 Oktober 2018 - 5:53PM
Dow Jones News
By Carlo Martuscelli
Sky PLC (SKY.LN) said Tuesday that Chairman James Murdoch will
be resigning with immediate effect after Comcast Corp.'s (CMCSA)
acquisition of the company became unconditional.
Mr. Murdoch is joined by a number of company executives in
leaving the U.K. media company. Independent nonexecutive directors
Matthieu Pigasse and Adine Grate have agreed to remain on the board
for the time being, Sky said.
James Conyers, Sky's general counsel, has been appointed to the
Sky board as an executive director with immediate effect, it
said.
The company said that it will now apply for its shares to be
de-listed after Comcast acquired more than 75% of the voting rights
of Sky.
Comcast agreed to pay $39 billion for the British pay-TV group
after a monthslong bidding war with 21st Century Fox Inc. ended in
a rare auction held by U.K. regulators.
The British broadcaster became the target of a protracted battle
involving some of the world's largest media companies, amid a
larger wave of deal-making accelerated by the rise of streaming
platform.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
October 09, 2018 11:38 ET (15:38 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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