Sky Deutschland is asking shareholders to appoint James Murdoch to its supervisory board. News Corp owns 54.8 per cent of the German pay-TV broadcaster. The expectation is that James Murdoch will simply join the board, and not become Chairman. James Murdoch is on the board of BSkyB, although resigned as Chairman in April last year over the News of the World phone-hacking scandal.
However, the news did not go down well with the stock market. Sky Deutschland’s share price, which had been performing well these last few months, immediately fell back 1.7 per cent on March 8th.
A Shareholders meeting is scheduled for April 18th.
Sky Deutschland is expected to move into positive profits later this year.