This excerpt taken from the BSY 6-K filed Jul 30, 2009.
Pay TV Review
In March 2007, Ofcom opened a market investigation into the pay TV sector, on which it has now published three public consultation documents. In its third consultation document, published on 26 June 2009, Ofcom stated that its concerns (that Sky has market power which permits it to limit distribution of certain sports and movie content on non-DTH platforms and to set wholesale prices for channels containing such content above a competitive level) should be addressed by an obligation on Sky to wholesale specific premium channels (HD and SD versions of Sky Sports 1, Sky Sports 2 and substantially all of the Sky Movies channels) on regulated terms. The obligation would not apply to Sky's own platforms or to arrangements for onward retailing to non-residential subscribers. The obligation would involve setting maximum wholesale prices and Ofcom is consulting on cuts to Sky's existing wholesale prices. The deadline for responding to this consultation is 18 September 2009. Sky continues to disagree with Ofcom's approach, analysis and conclusions. If, following consideration of responses to its consultation, Ofcom decides to implement its proposals, Sky will consider the available options including a full merits appeal.
Following the Competition Appeal Tribunal's dismissal of Sky's application for judicial review of the decisions of the Competition Commission and Secretary of State (SoS) requiring Sky to reduce its stake in ITV to below 7.5%, Sky was granted leave to appeal to the Court of Appeal, by the Court of Appeal itself. Virgin Media has also been granted leave to appeal and the appeals will be heard together at a hearing scheduled for October 2009.
On 2 January 2009 the Department for Business, Enterprise and Regulatory Reform (now the Department for Business, Innovation and Skills) opened a public consultation on draft undertakings implementing the divestment remedy required by the SoS' decision of 29 January 2008, the form of which the Group had previously agreed. No further announcement has been made since the consultation closed.
This excerpt taken from the BSY 20-F filed Aug 1, 2008.
Regulation S means Regulation S under the Securities Act (or any successor provision), as it may be amended from time to time.