LONDON, July 17 Britain's pay-TV group BSkyB
has sold a 6.4 percent stake in the country's biggest
free-to-air commercial broadcaster ITV to cable group
Liberty Global for 481 million pounds ($824 million).
BSkyB, which will need to raise cash if it goes ahead with
its plan to buy assets in Italy and Germany, had bought a 17.9
percent stake in ITV in 2006 for 940 million pounds, effectively
blocking cable group NTL creating a larger and more powerful
It was then forced to reduce the stake to appease the
competition regulator. NTL went on to become Virgin Media, which
has since been bought by Liberty.
($1 = 0.5835 British Pounds)
(Reporting by Kate Holton; editing by Paul Sandle)