British broadcasters have told a regulatory inquiry that BSkyB's acquisition of a 17.9% stake in ITV stifles competition and threatens the independence of news and media in the UK.
The BBC, Channel 4 and Virgin Media lined up to condemn Sky's £940m move in submissions to the Competition Commission after the watchdog launched an inquiry into the Sky holding two months ago.
Among the submissions, many of which were made public today, Channel 4 said it believed the acquisition 'will lead to a substantial lessening of competition in UK broadcasting'.
The BBC said in its submission that its 'greatest public interest concern remains with regard to plurality of voice in the provision of news'.
More than 60% of 16 to 34-year-old females and 58% of 16 to 34-year-old males already rely on Sky News or ITV News for more than half of their television news, according to the BBC.
The Competition Commission launched its inquiry in May after the Office of Fair Trading and Ofcom said Sky's holding raised 'significant' competition and public interest concerns.
Sky's move last November to snap up the ITV shares also caused controversy after scuppering Virgin Media's ITV merger plans, drawing fire from major Virgin Media shareholder Sir Richard Branson. Sky, which is yet to make its submission to the inquiry, maintains that the ITV stake is merely a long-term investment. The group also claims it has not broken any merger rules and can take its stake up to 19.9% under legislation.
