The BBC was described as "the most complete and exhaustive source of TV news in the year 2004" by an independent panel of media journalists.
Several hundred television channels were eligible to enter the Hot Bird TV Awards, organised by the satellite operator Eutelsat, which took place at a ceremony in Venice, Italy.
BBC World was also named Best News Channel at the Hot Bird TV awards in 1998 and in 2002, specifically in recognition of its coverage of the attacks on the US on September 11 2001. No other channel has received the award three times.
Jeff Hazell, director of sales and distribution at BBC World, said: "To win such a prestigious award from Eutelsat for a third time is a stunning achievement.
"It acknowledges the depth and strength of the balanced, accurate and ground-breaking journalism seen on BBC World and the analysis of the stories behind the headlines, for which we are recognised around the globe."
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