British Sky Broadcasting (BSkyB), the satellite broadcaster controlled by Rupert Murdoch, yesterday dropped Goldman Sachs as its corporate broker, ending a relationship with the investment bank that dates back to BSkyB's stock market flotation in 1994.

The move comes as the investment bank's relationships with corporate clients are under scrutiny following its participation in several private equity consortiums that have tried to buy public companies.

Goldman played an active role in a group that recently made an unsuccessful offer to take a controlling stake in ITV, the commercial broadcaster.

BSkyB confirmed it had dropped Goldman as one of its two corporate brokers and had appointed Merrill Lynch in its place, working alongside Deutsche Bank. It is understood that the company has been reviewing its financial advisers since December 2005.

The broadcaster said: "We've had a fruitful relationship and Goldman will continue to help us in an advisory capacity." Goldman and Merrill declined to comment.

BSkyB's relationship with Goldman dates back to the early 1990s when the investment bank helped arrange the company's stock market flotation.

In recent years, Goldman has worked closely with some of BSkyB's competitors, most notably NTL, the cable company that has emerged as one of the satellite group's rivals in the battle for British pay-TV and broadband internet subscribers.