Sky suffers shareholder revolt over directors' pay and James Murdoch re-election

Sky suffers shareholder revolt over directors' pay and James Murdoch re-election

The group said Game Of Thrones was its "most-watched series ever", while it also hailed home-grown series Riviera after it notched up 20 million downloads.

"There's nothing wrong with Mr Murdoch - but it is because of the name".

The broadcaster said in a statement: "The board notes the significant vote against resolution 3, the directors' remuneration report, and resolution 12, the re-election of James Murdoch, and will continue to engage with shareholders to understand their views as part of its ongoing programme of engagement".

"We've had a strong start to our new financial year with good revenue growth and excellent profit growth as investments we've made come through", said Sky CEO Jeremy Darroch.

The group shrugged off pressure on consumer and advertising spending to post a 5% rise in revenues to £3.3 billion for the first quarter, while underlying earnings jumped 11% to £582 million.

Sky recorded record entertainment audiences in its fiscal first quarter and grew its customer numbers by 51% year-on-year, helped by the launch of season seven of Game of Thrones.

However, investors voted more than 78 percent in favour of his re-election at an annual general meeting at Sky's London headquarters later on Thursday.

McDonald's Szechuan sauce promotion event a blunder
To say that yesterday's extremely limited return of McDonald's cult-classic Szechuan Sauce didn't go well is an understatement. Very few McDonald's locations received the sauce and those that did reportedly only received 20 packets per store.

The Competition and Markets Authority (CMA) says it will investigate how 21st Century Fox's proposed takeover of Sky would affect media plurality and broadcasting standards in the UK.

Mr Darroch said it was a strong start to the new financial year: "Against the backdrop of pressure on consumer spending and lower spend on United Kingdom television advertising, we were particularly pleased with our own EBITDA growth of 15% in our established business".

Review of the offer on public interest grounds by the UK Secretary of State for Digital, Culture, Media and Sport is on-going.

Twenty-First Century Fox, which already owns 39 percent of Sky, agreed to buy the rest of the company in December 2016, a deal which is now being reviewed by Britain's competition regulators.

The CMA is required to report to Bradley with its recommendations within six months of opening the investigation, after which the culture secretary will decide on whether or not the takeover can proceed. On Tuesday the regulator set out the scope of the investigation, with a final report due early next year.

"And our judgement was that the behaviour, particularly at Fox News, was extremely serious and disturbing".

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