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Last updated at: (Beijing Time) Wednesday, November 05, 2003

James Murdoch named CEO of broadcaster BSkyB

Defying investor opposition, British Sky Broadcasting Group PLC said Nov. 3 it has appointed James Murdoch, younger son of media mogul Rupert Murdoch, as chief executive.


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Defying investor opposition, British Sky Broadcasting Group PLC said Nov. 3 it has appointed James Murdoch, younger son of media mogul Rupert Murdoch, as chief executive.

The board of the London-based satellite broadcaster confirmed that Murdoch, 30, would replace Tony Ball, who announced in September he was stepping down.

Rupert Murdoch's News Corp. holds a 35.4 percent stake in BSkyB, and the senior Murdoch is chairman of the broadcaster.

Some shareholders opposed the younger Murdoch's appointment, fearing it could compromise the company's independence.

Last week, the Association of British Insurers, which holds about a quarter of BSkyB shares, voiced concerns over the way the company was handling the appointment and about the role of non-executive directors in the process.

In an apparent concession to these concerns, the BSkyB board appointed Lord Jacob Rothschild to the new role of non-executive deputy chairman, and said an additional independent non-executive director would be appointed. Rothschild, of the Rothschild banking family, is chairman of RIT Capital Partners PLC and Five Arrows Ltd.

Since 1999 James Murdoch has headed News Corp.'s Asian pay-TV service, Star TV, which reported its first profit last year.

Source: Agencies


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