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UK gov't tentatively OKs News Corp. buyout of Sky

UK gov't tentatively OKs News Corp. buyout of Sky

The British government has tentatively accepted plans by Rupert Murdoch's News Corp. to buy full control of British Sky Broadcasting.
Culture Secretary Jeremy Hunt said approval was conditioned on BSkyB spinning off Sky News as an independent company. News Corp. would retain a 39.1 percent stake in Sky News, the same as its current stake in BSkyB.
The plan is still subject to consultation before gaining final approval. News Corp. would then be free to make an offer for the remaining BSkyB shares.