Published: Fri, October 13, 2017
Culture&Arts | By Darrell Mcdonald

James Murdoch survives close call with shareholders

James Murdoch survives close call with shareholders

That included support from largest shareholder Fox, which controls a voting stake of 37.19 percent in Sky.

The broadcaster said in a statement: "The board notes the significant vote against resolution 3, the directors' remuneration report, and resolution 12, the re-election of James Murdoch, and will continue to engage with shareholders to understand their views as part of its ongoing programme of engagement".

The broadcaster's motion to reappoint Mr. Murdoch as chairman passed with 78% of votes, while approval of the remuneration report passed with 71%.

A trio of advisory firms have called on shareholders to rebel against Mr Murdoch, who is chief executive of 21st Century Fox and sits on its board.

Despite their position, Murdoch's level of support actually increased from 47% past year, and the votes attached to Fox's 39% shareholding in Sky meant that both his reappointment and the remuneration report were approved comfortably overall.

Last year, Sky's board tapped Murdoch to become its chairman. In late 2014, after BSkyB acquired Fox's Sky Italia and Sky Deutschland, the bigger company changed its name to Sky.

(FOX), which has agreed to take full control of Sky, in a deal now being scrutinized by United Kingdom regulators.

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Sharon White, Ofcom chief executive, has defended the decision made by the regulator over 21st Century Fox's proposed takeover of Sky.

Fox's bid for the 61% of Sky that it does not already own is being investigated by the Competition and Markets Authority on the basis of media plurality and broadcasting standards.

He told shareholders he was "pretty confident" that this would not have an effect on the CMA's investigation.

Sky is also set to update the market with results for the three months to 30 September on Thursday.

According to the statement it released today, European production business is a key priority for growth and the company will be investing 25% more in Sky Originals programming across its territories this year.

Mr Darroch said it was a strong start to the new financial year: "Against the backdrop of pressure on consumer spending and lower spend on United Kingdom television advertising, we were particularly pleased with our own EBITDA growth of 15% in our established business".

The group said Game Of Thrones was its "most-watched series ever", while it also hailed home-grown series Riviera after it notched up 20 million downloads. The company launched new streaming services in Spain and Switzerland in the quarter.

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