Murdoch offers to sell Sky News channel
Baku, March 3 (AZERTAC). Rupert Murdoch`s News Corporation was last night close to agreeing the sale of Sky News to allay concerns about the media mogul`s takeover bid for the remaining stake he does not own in BSkyB. The move will reassure Culture Secretary Jeremy Hunt, who is now expected to approve News Corp`s £7.5 billion bid for the 61 per cent of BSkyB, possibly today.
The ministry responsible for vetting the deal said Hunt had not yet taken a decision. “The Secretary of State hasn`t taken a decision. We will make an announcement in due course,” a spokesman said.
On 25 January, the UK government gave News Corp a final chance to avoid a prolonged investigation into its buy-out of BSkyB.
Hunt said then that he would consider unspecified proposals put forward by News Corp to alleviate competition concerns before deciding whether or not to refer the proposed deal for a full, six-month competition inquiry.
News Corp, which also owns British newspapers including The Sun and The Times, first offered 700 pence a share in June, but this was rejected by BSkyB`s directors who said they wanted more than 800 pence per share.
The companies behind the newspapers` competitors - including the Daily Mail, The Daily Telegraph, The Guardian and the Daily Mirror as well as broadcasters BBC and Channel 4 - have all expressed concerns that a deal could threaten competition.
Murdoch is seeking to consolidate a business that it helped to build, but has raised concerns he could gain too much control over the media and influence over public opinion.
The latest developments at BSkyB came as ITV chief executive Adam Crozier yesterday unveiled a near-trebling of annual profits - just ten months after he joined from the Royal Mail.
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