BSkyB Rejects QVC Option

BSkyB has decided not to exercise its option to keep a 50% stake in QVC, the home-shopping channel which is part of the Sky multi-channel subscription package.

To retain its 50% stake, BSkyB would have had to inject substantial amounts of cash around now, but has decided not to do so. As a result, as of 1 August the BSkyB stake in QVC will fall to 20%. The decision is surprising because QVC is doing well and is heading for revenues of at least £40m in its first year on air.

86 SATELLITE MUSIC CHANNELS PLANNED

ICT-Europe, a satellite music company, is planning to offer 86 channels of compact disc quality music throughout Europe by the end of the year. The 24 hour music channels will be broadcast on Astra, and will range from rock to pop to classical. The company has announced a deal with BSkyB to offer the 86 channel service to subscribers; there would be no disc jockeys nor advertisements.