Thursday, March 3, 2011

News Corp Takeover Of BSkyB Approved By UK Government

News Corp Takeover Of BSkyB Approved By UK Government

LONDON — Rupert Murdoch's global media empire is poised to grow ever bigger after the British government approved plans by News Corp. to buy full control of satellite TV operator British Sky Broadcasting Group PLC.

In a controversial move, the Conservative-led coalition said Thursday it will give News Corp. the green light to buy the remaining 61 percent of BSkyB it does not already own – on the condition that it spin off its Sky news channel as an independent company.

The ruling, which is subject to industry consultation and potential legal challenges, was immediately attacked by a coalition of other major media outlets and the opposition Labour Party.

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