News Corporation Moves to Delay BSkyB Deal to Avoid Its Collapse
Tuesday, July 12, 2011 7:56Posted in category News
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Due to the allegations of phone hacking by the now-shuttered News of the World, News Corporation effectively delayed government action on its proposed takeover of BSkyB.
According to the News Corporation, it is announced that the company was planning to submit its offer for the 61% of BSkyB it does not own already to the country’s Competition Commission. News Corporation had offered to spin off the Sky News channel previously to avoid referral to the commission. However, the company now says it looks to keep Sky News and take its chances with the regulator.
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