British Sky Broadcasting Group plc (BSkyB) has filed an appeal on October 29 against a competition ruling forcing it to cut its 17.9% stake in ITV Plc. Britain's Competition Appeal Tribunal (CAT) said in 2008 that BSkyB would have to reduce its stake to below 7.5% to prevent a loss of competition in the media sector. BSkyB had acquired the shares in ITV in 2006 for £940 million, or more than 135 pence per share, effectively blocking Virgin Media from acquiring ITV. BSkyB wants to get the case sent back to the Competition Commission for a fresh investigation, which, if successful, would delay the date by which BSkyB has to sell the stake. The company's legal team launched their case at the Court of Appeal in London, telling the hearing they planned to debate the scope and depth of the review, the standard of proof that the stake would reduce competition and the suggested remedies. The team also said they planned to question the finding that the acquisition affected the level of media plurality in Britain and discuss what would have happened to competition if BSkyB had not acquired the stake. The Court of Appeal hearing is scheduled to last for two days, with a result likely to come at a later date.

British Sky Broadcasting Group plc expected to Report Q2 2010 Results on April 29, 2010. This event was calculated by Capital IQ (Created on October 26, 2009).

British Sky Broadcasting Group plc announced unaudited statutory earnings results for the first quarter ended September 30, 2009. For the quarter, the company reported operating profit of GBP 198 million on revenue of GBP 1,380 million against operating profit of GBP 179 million on revenue of GBP 1,249 million for the same period a year ago. Profit before tax in the period of GBP 180 million, compared to GBP 129 million in the same period a year ago, included the Group's share of joint ventures' profits of GBP 6 million and a net interest charge of GBP 24 million. Adjusted profit for the period was GBP 121 million, compared to GBP 106 million in the same period a year ago, generating an adjusted basic earnings per share of 7.0 pence compared to 6.1 pence in the same period a year ago. Including all exceptional items, profit for the period was GBP 128 million or 7.4 pence per basic share against GBP 73 million or 4.2 pence for the same period a year ago. Cash generated from operations of GBP 113 million compared to GBP 153 million in the same period a year ago. Cash generated from operations impacted by seasonal outflows and one-off factors, including an earlier payment to the Football League than in the prior year. Net debt as at 30 September 2009 was GBP 1,857 million against GBP 1,906 million for the same period a year ago. Adjusted operating profit was GBP 198 million and adjusted EBITDA was GBP 279 million against adjusted operating profit of GBP 182 million and adjusted EBITDA of GBP 249 million for the same period a year ago.