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Rupert Murdoch, whose News Corp. owns 40 per cent of British Sky Broadcasting PLC, was named by BSkyB's board as new chairman of the satellite broadcasting company with immediate effect, succeeding Jerome Seydoux.
The move was widely expected after Seydoux's French film company Pathe reached agreement earlier this month to sell its 17 per cent stake in BSkyB to French media and utilities group Vivendi. Seydoux becomes a nonexecutive director of BSkyB.
Vivendi owns a 34 per cent stake in Canal Plus, a European rival to BSkyB. The Pathe-Vivendi deal raised expectations that Canal Plus and BSkyB would resume merger talks that broke off earlier this year. In the meantime, say analysts, Murdoch was likely keen to keep Vivendi out of the BSkyB chairman's role.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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This story was printed from Net Express located at http://www.expressindia.com. Net Express provides a portal to India, with news from The Indian Express and The Financial Express along with sites on travel and tourism, the entertainment industry, the power sector, the environment and much more.
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