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Monday, March 7, 2011

News Corp COO says 700p is still fair price for Sky, (NASDAQ: NWSA)

News Corp (NWSA.O) Chief Operating Officer Chase Carey said on Monday he believes his company has already offered a "fair price" to take full control of UK satellite TV provider BSkyB. Last June, Rupert Murdoch's News Corp offered 700 pence a share, or around $14 billion, and last week got a nod towards getting through a convoluted regulatory process in the UK [ID:nLDE72205C]. BSkyB's independent board asked News Corp to up its offer to 800 pence last year, but since then BSkyB's value has soared to 831 pence at market close in London. Some BSkyB holders have suggested the dominant pay-TV business in the UK is worth 950 pence, or an extra 3 billion pounds [ID:nLDE7260FY].

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