Wednesday 26 April 2017

EU regulators clear News Corp bid for BSkyB

Rupert Murdoch, chairman and CEO of News Corp. Photo: Getty Images
Rupert Murdoch, chairman and CEO of News Corp. Photo: Getty Images

Moves by Rupert Murdoch's News Corporation to take control of BSkyB cleared a key hurdle today following approval from European regulators.

News Corp, which owns The Sun and The Times, wants to buy the 61pc stake of the broadcaster it does not already own for £7.8bn (€9.2bn).

The European Commission (EC) approved the deal, but the group still faces the scrutiny of UK industry regulator Ofcom, which will decide by December 31 whether to refer the bid to the Competition Commission.

Joaquin Almunia, EC vice-president and commissioner for competition, said: "I am confident this merger will not weaken competition in the UK. The effects on media plurality are a matter for the UK authorities."

Press Association

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