Airey quits as CEO of Iostar after eight days

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LONDON -- Former BSkyB head of programming Dawn Airey has quit startup content and distribution group Iostar just eight days after formally taking up the chief executive post.

Airey, who was announced with fanfare as Iostar's CEO at the end of 2006, is thought to have left the venture over concerns about its funding, according to insiders.

"She is in talks with her lawyers about what is a potential breach of contract," sources said. "She believes that the funding would be in place when she joined, but it is not."

Iostar declined comment beyond saying that the venture "would not be continuing in its current  form."

Iostar was launched last November by media entrepreneur Mark Grenside with the backing of senior media figures including former UKTV chief executive Dick Emery and actor Stephen Fry.

The group, which launched its international plans at last week's MIPTV sales conference in Cannes with a 200-hour slate including TV movies "Break In" and "Don't Cry Now," aims to provide a new content production and talent management business with partners including Lifetime, RHI Entertainment and Discovery.

Before being wooed to satcaster BSkyB by former chief executive Tony Ball in 2002, Airey was chief executive of RTL-owned U.K. terrestrial network Five.
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