FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a - 16 or 15d - 16 of
the Securities Exchange Act of 1934
For the month of November, 2006
17 November, 2006
BRITISH SKY BROADCASTING GROUP PLC
(Name of Registrant)
Grant Way, Isleworth, Middlesex, TW7 5QD England
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F
Form 20-F X Form 40-F
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934
Yes No X
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): Not Applicable
EXHIBIT INDEX
Exhibit
EXHIBIT NO.1 Press release of British Sky Broadcasting Group plc
announcing BSkyB Buys 17.9% of ITV PLC released on
17 November, 2006
British Sky Broadcasting Group PLC
Acquisition of Shares in ITV PLC
British Sky Broadcasting Group plc ("BSkyB") announces that it has acquired a
stake in ITV plc ("ITV"). BSkyB has today acquired 696 million shares,
representing 17.9 per cent of the issued share capital of ITV, at a price of 135
pence per share. The total consideration amounts to approximately GBP 940
million, which will be funded from the group's existing cash balances and its
currently undrawn revolving credit facility.
BSkyB wishes to explore options to create value in the interests of both BSkyB's
and ITV's shareholders. BSkyB believes that ITV is one of Europe's premier
broadcasting and production businesses, and holds substantial potential for
long-term value creation. This acquisition of shares has taken place without the
prior knowledge of the ITV board of directors, but BSkyB has today communicated
to ITV's board its intention to be a supportive shareholder.
BSkyB has no intention of acquiring shares that would result in BSkyB's stake
exceeding 19.9 per cent or making an offer for the whole of ITV's remaining
share capital.
BSkyB notes that under Section 350(3) and Schedule 14 of the Communications Act
2003, BSkyB is prohibited from controlling an interest of more than 20 per cent
in ITV plc.
A conference call for analysts and investors will be held at 18:00 p.m. (GMT)
today. The dial-in number is +44 20 7162 0025.
Enquiries:
British Sky Broadcasting Group plc
Analysts/investors:
Andrew Griffith 020 7705 3118
Robert Kingston 020 7705 3726
Press:
Matthew Anderson 020 7705 3267
Finsbury:
Roland Rudd 020 7251 3801
Alice Macandrew 020 7251 3801
Morgan Stanley & Co. Limited (Financial Adviser):
Scott Matlock 020 7425 5000
Henry Stewart 020 7425 5000
Hugo Baring 020 7425 5000
Morgan Stanley and Co International Limited (Joint Corporate Broker to BSkyB):
Nick Wiles 020 7425 8000
Tim Pratelli 020 7425 8000
Merrill Lynch International (Joint Corporate Broker to BSkyB):
Mark Astaire 020 7628 1000
Patrick Bowes 020 7628 1000
Morgan Stanley & Co. Limited is acting exclusively for British Sky Broadcasting
Group plc and no one else in connection with the matters described in this
announcement and will not be responsible to any other person for providing the
protections afforded to clients of Morgan Stanley & Co. Limited nor for
providing advice in relation to the matters described in this announcement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BRITISH SKY BROADCASTING GROUP PLC
Date: 17 November, 2006 By: /s/ Dave Gormley
Dave Gormley
Company Secretary