BSkyB’s plan to buy Rupert Murdoch’s pay-TV assets in Italy and Germany for up to €10bn is a bold bet on long-term growth at the expense of short-term profit, but the pioneering British media firm has pulled off such gambles before.

The High Court in London yesterday referred to the European Court of Justice (ECJ) the European Low Fares Airline Association’s (ELFAA) legal challenge to EU Regulation on Air Passenger Compensation for denied boardings, long delays and cancellations.