Murdoch to sell Sky News as part of buyout deal

The BBC reports that Media Corp’s Rupert Murdoch is prepared to sell Sky News channel as part of a bigger plan to takeover BSkyB

By Susan Ryan Wednesday 2 Mar 2011, 8:52 PM

Mar 2nd 2011, 8:52 PM 1,253 Views 5 Comments

http://jrnl.ie/95578

Rupert Mudroch and his wife Wendi Deng at the Vanity Fair Oscar Party in LA last weekend.

Image: Vince Flores/UK Press/Press Association Images

Rupert Mudroch and his wife Wendi Deng at the Vanity Fair Oscar Party in LA last weekend.

Image: Vince Flores/UK Press/Press Association Images

RUPERT MURDOCH HAS AGREED to sell the Sky News channel to pave the way for a wider BSkyB takeover deal, according to the BBC.

Murdoch’s News Corp. is trying to win government approval for its takeover of BSkyB.

However, the British communications regulator Ofcom had expressed its concern about the impact of the takeover deal, because it would see News Corp. control Sky News, the Sunday Times, the Times, the Sun and the News of the World.

News Corp. already has a 40 per cent majority stake in BSkyB, but is understood to be interesting in increasing its ownership right up to 100 per cent. Murdoch’s decision to sell Sky News could help the deal get regulatory approval.

Read the report in full on the BBC >

- Includes some reporting by the AP

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Murdoch to sell Sky News as part of buyout deal