Reed Backs Away From TV Network: Reed...
From Times Staff and Wire Reports
Reed Backs Away From TV Network: Reed International PLC in London said it won’t provide more funds to the money-losing satellite television network British Sky Broadcasting PLC. Chairman Peter Davis said Reed wanted to focus its resources on its core publishing and information businesses, “where we have more direct management control.” He said that as a result of the decision, Reed’s deputy chief executive, Ian Irvine, has resigned as chairman and as a director of the network.
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