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04/11/2010
Ofcom To Investigate News Corp's Bid For BSkyB
Following a request from the Business Secretary, Ofcom is set to probe News Corp's plans to bid for BSkyB shares.
The regulator will consider the effect on media plurality if News Corp successfully takes over the remaining 61% of BSkyB shares.
Yesterday, The European Commission was officially notified by News Corp of its intent to make a bid for the satellite broadcaster.
They will review the case and report by December 8.
Head of News Corp, Rupert Murdoch, currently has considerable UK investment through ownership of The Times, The News Of The World and The Sun.
Business Secretary Vince Cable is under pressure by media rivals to block the plans amid fears the takeover would pose a threat to competition and plurality.
He said: "The independent experts at Ofcom will now investigate and report to me on the media plurality issues that may arise from this proposed acquisition.”
Ofcom has until the end of December to submit a recommendations report to the Business Secretary.
In response, News Corp said it was "confident that the proposed investment will not adversely affect media plurality in the United Kingdom".
(BMcN/KMcA)
The regulator will consider the effect on media plurality if News Corp successfully takes over the remaining 61% of BSkyB shares.
Yesterday, The European Commission was officially notified by News Corp of its intent to make a bid for the satellite broadcaster.
They will review the case and report by December 8.
Head of News Corp, Rupert Murdoch, currently has considerable UK investment through ownership of The Times, The News Of The World and The Sun.
Business Secretary Vince Cable is under pressure by media rivals to block the plans amid fears the takeover would pose a threat to competition and plurality.
He said: "The independent experts at Ofcom will now investigate and report to me on the media plurality issues that may arise from this proposed acquisition.”
Ofcom has until the end of December to submit a recommendations report to the Business Secretary.
In response, News Corp said it was "confident that the proposed investment will not adversely affect media plurality in the United Kingdom".
(BMcN/KMcA)
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