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News Corp withdraws pledge on BSkyB takeover

News Corp withdraws pledge on BSkyB takeover

News Corp. has withdrawn a promise to spin off Sky News as a condition of its takeover of satellite network British Sky Broadcasting PLC.
The company's move on Monday means the government is almost certain to refer the bid to Britain's Competition Commission for a full-scale inquiry into whether the takeover would break anti-monopoly laws. If it does, the bid would likely be on hold for several months.
The government is under intense pressure to block the bid following revelations of phone hacking at the Sunday tabloid News of the World.


Updated : 2020-11-30 16:45 GMT+08:00