News Corp set to finalise BSkyB takeover
News Corp's takeover of BSkyB is set to go through next week, it has emerged.
Merger and acquisition advisors may be required in the near future after it emerged yesterday (June 22nd) that News Corporation's complete takeover of British Sky Broadcasting (BSkyB) is set to be finalised.
The protracted arrangement was first agreed between the two groups earlier this year, but policymakers have not allowed it to go through due to concerns about the potentially negative affect it will have on media plurality in the UK.
At present, News Corp owns 39.1 per cent of BSkyB and policymakers expressed concerns that a complete takeover would lead to market domination by the group owned by Rupert Murdoch.
This resulted in stringent examinations by bodies such as the Office of Fair Trading and the Competition Commission, but it has been reported that News Corp has accepted the terms put forward on the merger by regulators.
Therefore, the deal is expected to be given the green light by culture secretary Jeremy Hunt next week.
Posted by Edel Quinn