James Murdoch wins backing of Sky shareholders to stay as chairman

Rupert Murdoch is executive chairman of 21st Century Fox

Rupert Murdoch is executive chairman of 21st Century Fox

In response White said that while the regulator has from some "extremely disturbing" behaviour at Fox News, for which 21st Century Fox is the parent company, it did not believe that Sky was deserving of losing its broadcasting licence following the proposed takeover.

Ofcom chief executive Sharon White has said she is "absolutely confident" that the broadcasting regulator was right in ruling that the planned purchase of Sky by Rupert Murdoch's 21 Century Fox would not undermine its broadcasting standards.

Sky shareholders on Thursday reelected all board members, including 21st Century Fox CEO James Murdoch, who serves as chairman of the European pay TV giant and again faced opposition from some shareholders going into the annual meeting.

"There's nothing wrong with Mr Murdoch - but it is because of the name".

A previous attempt by Fox to buy Sky was abandoned in the midst of the phone-hacking scandal in 2011.

The shareholder, Hugh Lawson, said: "I think the board lacks independence".

Sky chief executive Jeremy Darroch said: "We've had a strong start to our new financial year with good revenue growth and excellent profit growth as investments we've made come through".

"Independent oversight of the board is particularly important given Fox's ongoing bid to acquire Sky".

In terms of looking at broadcasting standards, the CMA said it is seeking views and evidence on whether the merged entity, post-transaction, will have a "genuine commitment to broadcasting standards objectives".

Gilbert's comment was a reference to allegations of sexual and racial harassment at Fox News.

Fox's US$15 billion bid for Sky is now with United Kingdom competition watchdogs.

Sky shares - 7% down in the year to date - were 0.5% up in early trading following the release of the results statement.

Like-for-like revenues during the three months to the end of September were £3.3bn, up 5.5% on the same period a year ago, while EBITDA (earnings before interest, taxation, depreciation and amortisation) rose by 11% to £582m.

"Within this the first series of our home-grown drama Riviera achieved 20 million downloads, becoming our highest ever rated Original commission and Game of Thrones has become the most watched series ever on Sky".

He pointed out that in addition to Sky's existing markets - the UK, Ireland, Germany, Austria and Italy - the company had just launched consumer streaming services in Spain and Switzerland.

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