BSkyB Offloads ITV Shares

British Sky Broadcasting Group plc (“Sky”) has successfully placed a shareholding of approximately 10.4% in ITV plc (“ITV”) in accordance with the final undertakings given by Sky to the Secretary of State for Business, Innovation and Skills relating to Sky’s investment in ITV.

The placing by Sky of 404,362,095 ITV shares with Morgan Stanley Securities Limited at 48.50p per ITV share results in aggregate consideration of approximately £196 million.

Sky intends to retain its residual 7.5% investment in ITV for the medium term and to remain a committed shareholder of ITV.