1. Richard Edgar

Ofcom investigating BSkyB

'Project Apple' is to investigate material emerging from the Leveson inquiry. Credit: REUTERS

Broadcasting regulator Ofcom has set up a dedicated team to investigate whether BSkyB is a "fit and proper" owner of a broadcasting license.

Ofcom told the Financial Times in a Freedom of Information disclosure that a dedicated team was investigating material emerging from the Leveson inquiry.

If Ofcom decides there has been rum goings-on it could force the resignation of James Murdoch, who is still chairman of BSkyB, and/or the halving of NewsCorp's stake in the company to below 20 per cent, destabilising the stock.