LONDON (Reuters) - BSkyB will hand out 1 billion pounds ($1.6 billion) to placate investors who lost out when a phone-hacking and police corruption scandal forced News Corp to drop its bid for the satellite broadcaster.
BSkyB, whose board on Thursday voted unanimously to keep the embattled James Murdoch as its chairman, will return 750 million pounds to investors with a share buy-back and a further 253 million via a 20 percent boost to the final dividend.
News Corp agreed to take part in the buyback to prevent its stake from creeping above its current 39 percent, BSkyB said on Friday. Any increase would have been politically contentious while the phone-hacking scandal hangs over the company.
via news.yahoo.com
