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Monday, March 7, 2011

CORRECTED-Investor says News Corp should pay $18 billion for Sky, (NASDAQ: NWSA), (BSY)

Rupert Murdoch's News Corp (NWSA.O) should pay 11 billion pounds ($17.91 billion) to buy out satellite broadcaster BSkyB (BSY.L), said a top five investor, according to a report in the Sunday Times. Fidelity International, which has a 3 percent stake in Sky, wrote a letter to a BSkyB independent director, saying a "fair value" would be 950 pence per share, with an additional premium to gain full ownership, the newspaper said. That would mean News Corp paying out around 3 billion pounds more than it has currently put on the table.

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