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Tuesday, January 25, 2011

UK says minded to probe News Corp's BSkyB bid, (NASDAQ: NWSA), (BSY)

The British government said on Tuesday it was minded to refer News Corp's (NWSA.O) proposed $12 billion buyout of BSkyB (BSY.L) for a prolonged investigation but said it would first consider proposed remedies. Britain's media regulator had examined the deal over fears it would give News Corp's Rupert Murdoch too much influence over the media and public opinion. The government said on Tuesday that Ofcom had recommended that the deal should be referred to the Competition Commission but Culture Secretary Jeremy Hunt said he would first consider proposals put forward by News Corp to alleviate competition concerns.

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