British broadcaster BSkyB has lost its appeal against a British government ruling that it cut its stake in independent television giant ITV on competition grounds.
The Competition Appeal Tribunal dismissed the satellite broadcaster's appeal against a decision in January that it slash its holding in ITV to below 7.5% from 17.9%.
BSkyB's biggest shareholder is Rupert Murdoch's News Corp. The broadcaster is best known for its live coverage of English Premier League football and 24-hour news channel Sky News.
