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UK govt refers News Corp. BSkyB bid to regulator

UK govt refers News Corp. BSkyB bid to regulator

The British government says it is referring News Corp.'s bid for British Sky Broadcasting to competition authorities for a review.
That announcement Monday from Culture Secretary Jeremy Hunt means that the bid will likely be put on hold for several months.
The decision follows News Corp.'s withdrawal of a promise to spin off Sky News, which had been a condition for taking full control of the broadcaster, in which it already owns 39 percent.
Britain's Competition Commission now must hold a full-scale inquiry into whether the takeover would break anti-monopoly laws.


Updated : 2020-12-05 03:17 GMT+08:00