It is little surprise that Murdoch wants BSkyB

Judging it as a business the progress of BSkyB during the British economy’s sluggish growth is remarkable. In the past 12 months, revenues have increased by 16% to £6.5bn with their operating profit increasing by 23% to more than £1bn.

Dividends will increase by 20% and the number of total Sky customers; TV, telephony and broadband is over 10 million up from just less than ten million. And buying the rights to broadcast all F1 races from 2012 through 2018 will not hurt anything either, cutting the live races covered by the BBC in half.

In that way the largest media company in the UK does not seem bothered by it largest shareholder Robert Murdoch’s crisis with News Corp who now owns 39% of BSkyB of which supplies James Murdoch as the chairman of BSkyB as well as chairman of UK operations in News Corp.

James Murdoch was backed last night by the board of BSkyB to remain as its chairman despite systematic abuses disclosed about News of the World that is owned by News Corp and in spite of colleague’s Tom Crone and Colin Myler’s claims his knowledge of News of the Worlds phone hacking in 2008 may well have been more than he lets on.

One board member said the backing is not permanent, if there is evidence that is proven that damages his credibility then reconsideration by the board would be made to see if he might have to resign. On the other hand James Murdoch received 100% support from the chief executive of BSkyB Jeremy Darroch who said in working with him for years he does not doubt one bit Mr. Murdoch’s integrity.