The broadcaster is said to spend just over £1bn on marketing after James Murdoch boosted the spend when he took over the chairmanship of the company in 2004.
Press reports claim Murdoch Snr will slash the budget as soon as he gains full control of the broadcaster, if as seems likely, he increases his offer and secures shareholder approval.
The move comes as Sky is to close two of the country’s largest customer titles – Sky Sports Magazine and Sky Movies Magazine – and slash the frequency of Sky Magazine, the UK’s largest circulating monthly to a quarterly.
The three magazines, which have the biggest circulation in the UK, are to replaced with a new weekly email, which will provide programme highlights and links to the latest Sky content.
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