Stewart has been at BSkyB five years and he was one of the first names to be linked to the post when reports surfaced that Rupert Murdoch, chairman of News Corporation, was planning to install his son James at the helm of the broadcaster.
The Murdoch succession plan, however, has been opposed by BSkyB shareholders, with many fearing it would mean that News Corp's grip on the UK firm would tighten. News Corp has a majority stake in BSkyB of 37.5%.
Last week, it was revealed that BSkyB had appointed headhunters Spencer Stuart to conduct a worldwide search to fill the post in an attempt to prevent Murdoch junior from automatically getting the job.
It is understood that the deadline for applications is today and reports claim that Stewart's was one of them.
Before joining BSkyB, Stewart worked at music and entertainment company Polygram for five years. He is said to be well respected in the City because of the role he has played in BSkyB's success. He is also thought to be Ball's favourite candidate to succeed him. At 39, he is the second youngest member of the board, next to 30-year-old James Murdoch, who is currently chief exective of News Corp's Star TV in Asia.
BSkyB chief operating officer Richard Freudenstein is also expected to be a contender for the job. Other names from outside News Corp that have been linked to the role include Jim Robbins, chief executive of US cable giant Cox Communications, and the president of EchoStar, rival satellite broadcaster to News Corp's DirecTV, Michael Dugan.
Ball's contract runs out in May 2004, but speculation has suggested that a successor will be in place before then.
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