Mark Booth to Leave BSkyB to Set Up New Venture.
British Sky Broadcasting Group plc (NYSE:BSY), the UK-based pay-television broadcasting group, today announced that Mark Booth, its Chief Executive, will be leaving his post to become Chief Executive of a start-up new media company, e-partners.
e-partners will invest in new media opportunities including the Internet, interactive television and wireless communication. The company will have a $300 million equity capital base that will be provided by News Corporation.
Mark Booth will leave BSkyB in the next few weeks, after a successor is chosen.
Mark's successor at BSkyB will be chosen from outside the company by a committee of the board, including Jerome Seydoux, the BSkyB chairman, Sir Dennis Stevenson, Chairman of the Remuneration Committee, Philip Bowman, Chairman of the Audit Committee, and Rupert Murdoch, Chairman and Chief Executive of News Corporation, which has a 40% stake in BSkyB.
Jerome Seydoux, Chairman of BSkyB, said:
"I regret Mark Booth's departure, but wish him well in his new exciting venture, which I'm sure will be a great success. I would like to thank Mark for the brilliant job he has done at Sky, leading the most successful launch of digital television anywhere in the world. He is leaving Sky firmly positioned for continued leadership."
Mark Booth said:
"I am thrilled to be leading an entrepreneurial venture at a time of great change and opportunity. I look forward to building on the successes we have already achieved in interactive digital television and to creating new opportunities for News Corp and its shareholders.
I will miss working with the tremendously talented and dedicated staff at Sky, whose efforts have led to the fastest launch of digital satellite television anywhere in the world. I am proud of their work and proud to be leaving Sky at a time when it is the clear leader in the digital television market."
Rupert Murdoch said:
"Mark has done an outstanding job at BSkyB. He will leave the company in great shape. It has very talented executives in each of its key operational areas, and I am extremely confident about its future."
Mr. Murdoch asked for and received permission from Jerome Seydoux, the Chairman of BSkyB, before offering Mr. Booth this newly created position at News Corp. Mr. Murdoch made the offer after Mr. Booth had been approached by a major internet company.
BSkyB ADRs (each equal to six ordinary shares) trade on the New York Stock Exchange under the symbol BSY. BSkyB ordinary shares are listed on the London Stock Exchange, and can be accessed on Reuters under the symbol BSY.L, and on Quotron and Bloomberg under the symbol BSY. Additional information is available on BSkyB's home page: http://www.sky.co.uk.
Notes for Editors: 1. Mark Booth took up the position of Chief Executive of BSkyB
in November 1997. He was previously Chief Executive of
FOXTEL, Chief Operating Officer of JSkyB and was responsible
for the launch of MTV Europe as its Managing Director. 2. BSkyB announced that it had 350,000 digital subscribers by
the end of January 1999, and is on track for 1 million
subscribers by October 1999.
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|Date:||Apr 27, 1999|
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