Clothing manufacturer Burberry was supposed to pick up the cost of the event, but withdrew for fear that protesters would picket the party over Burberry's decision to close a factory in Wales, Variety said Friday.

Burberry's withdrawal had forced BAFTA to cancel the event, scheduled for Feb. 10, but executives at the satellite broadcaster said they contacted BAFTA officials to offer support.

BSkyB has no other link to this year's BAFTA ceremony, which will air Feb. 11.

"We are delighted that Sky has saved the day," BAFTA chairman Hilary Bevan Jones said. "As a charity we cannot fund an event on this scale without the generous support of sponsors, and it is entirely fitting that Sky with its fantastic film offering can be our partner on this event."

Dawn Airey, BSkyB's managing director of channels and services, said the broadcaster was "delighted" to lend its support.