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BSkyB boss changes jobs
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April 27, 1999: 9:52 a.m. ET
U.K. pay-TV unit CEO Booth leaves to head News Corp. new media start-up
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LONDON (CNNfn) - Mark Booth, chief executive of U.K. pay-TV giant BSkyB, resigned Tuesday in order to head a new media venture funded by Rupert Murdoch's News Corp.
BSkyB, 40 percent-owned by News Corp. (NWS), said Booth would be leaving the company in the next few weeks to head the start-up media company called e*partners.
The new company will focus on new media opportunities, "including the Internet, interactive television and wireless communication," BSkyB said.
e*partners will be funded by $300 million in equity capital from News Corp. In a statement BSkyB said Murdoch gained permission from other board members to offer Booth the new role after Booth "had been approached by a major Internet company."
BSkyB did not name a successor to Booth, who joined the company in November 1997. But it said the new boss would come from beyond current staff.
"That means it won't be Elizabeth Murdoch (Rupert's London-based daughter)," according to media analyst Matthew Horsman at Henderson Crosthwaite, adding that the market was pleased the new chief would therefore be an industry heavyweight.
"Murdoch was very keen not to lose Booth, and he (Booth) didn't want to stay at BSkyB, so this is a solution," added Horsman.
In London BSkyB (BSB) stock was up almost 3 percent at 587 pence.
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BSkyB
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