Culture Secretary Jeremy Hunt has confirmed he will refer News Corp’s bid for BSkyB to the Competition Commission. It follows the withdrawal of undertakings by News Corp that would have led to the spin-off of Sky News. In an earlier statement, News Corp said it was willing to engage with the Competition Commission on its proposed […]
Culture Secretary Jeremy Hunt has written to the media regulator Ofcom over
News Corp’s proposed takeover of BSkyB. The move keeps alive the possibility
the matter could still be referred to the Competition Commission. [Read the Story…]
A statement by Ofcom that it has “a duty to be satisfied on an ongoing basis that the holder of a broadcasting licence is ‘fit and proper’” has been interpreted in some media circles that the regulator may intervene in the proposed sale of BSkyB to News Corp.
A war of words has erupted over the decision by Sky Italia to drop Al Gore’s information channel Current TV from its line-up.
Culture Secretary Jeremy Hunt has approved plans to spin-off Sky News as an independent company, should News Corp’s bid to purchase the remaining 61% in BSkyB be accepted. Under the plan, shares in the traded Sky News would be distributed among the existing shareholders in BSkyB, in line with their current shareholdings.
News Corp is close to an agreement with regulators that would address concerns over its purchase of BSkyB.
The Secretary of State for Culture, Olympics, Media and Sport Jeremy Hunt is to follow an Ofcom recommendation to refer News Corp’s acquisition of BSkyB to the Competition Commission, but only after the company has been given the opportunity to reduce the impact of the proposed takeover.
News Corp has told the government that it is prepared to sell Sky News in a bid to reduce the amount of time spent on a review of its proposed takeover of BSkyB.
Ofcom has been ordered to investigate proposals by News Corp to take full control of BSkyB on grounds of media plurality. The Secretary of State for Business, Vince Cable, has issued an intervention notice under Section 67 of the Enterprise Act 2002 that requires the regulator to summit its report by December 31.
News Corp is expected to formally notify the European Commission of its intention to purchase the remainder of BSkyB within the next few days. Industry concern centres around the potential buying power of News Corp’s European television operations and UK media plurality. BSkyB directors have previously rejected the 700 pence (842 euro cents) per share […]