In 1990, both companies were beginning to struggle with the burden of massive losses and on 2 November of that year, there was a 50:50 financial merger with a management takeover by Sky. The new company was called British Sky Broadcasting (BSkyB) but marketed as Sky, Marco Polo House was actually sold, BSB's channels were largely scrapped in favour of Sky's and the Marcopolo satellites were run down and eventually sold in favour of the Astra system (Marcopolo 1 in December 1993 to NSAB of Sweden and Marcopolo 2 in July 1992 to Telenor of Norway, leaving the Squarial obsolete. Both companies had already one HS376 in orbit at the time). The merger may have saved Sky financially; it had very few major advertisers to begin with, acquiring BSB's healthier advertising contracts apparently solved the company's problems.