BSkyB faces $4.2bn dividend quandary

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3 Nov 2010
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British Sky Broadcasting Group’s board of directors faces a dilemma over a potential £2.6-billion ($4.2 billion) payout to shareholders that would also go to Rupert Murdoch’s News Corp, the company whose bid for BSkyB collapsed because of a phone-hacking scandal.

The 14-person board, chaired by son James Murdoch, will on July 28 consider a one-time dividend to investors, said a person familiar with the matter, requesting anonymity. BSkyB stock dropped 17% in seven days before the hacking allegations forced News Corp to shelve its offer for full control of the UK pay-TV company. News Corp is BSkyB’s biggest shareholder with a 39% stake.
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