Goldman: Goldman Sacked

The Murdochs and Goldman Sachs have traditionally had an extremely close relationship. Goldman was one of the banks that floated BSkyB, the Murdoch-controlled UK pay-TV group, in 1994 and was consistently its corporate broker ever since. John Thornton, Goldman’s ex-president, sat on Sky’s board from its float until two years ago. What causes such a special relationship to deteriorate to such an extent that Sky has recently sacked Goldman as its broker and replaced it with Merrill? Perceived conf...