Stay connected:
Submitted: July 13, 2011 - 5:02pm
Originally published: July 13, 2011
Last updated: July 13, 2011 - 5:23pm
Originally published: July 13, 2011
Last updated: July 13, 2011 - 5:23pm
Source:
Financial Times
Location:
BSkyB, London, TW7, United Kingdom
Rupert Murdoch has bowed to intense political pressure and withdrawn News Corp’s planned £7.8bn bid to take full control of British Sky Broadcasting, after the company admitted public condemnation of phone hacking at his UK newspapers made the deal “too difficult”.
The decision to abandon the 13-month pursuit of the UK’s most valuable commercial broadcaster, announced on Wednesday, means the phone-hacking scandal has forced Mr Murdoch not only to close his most widely read British newspaper, the News of the World, but also to curtail his ambitions to consolidate his pay-television empire in Europe. Downing Street welcomed the news, saying: “As the prime minister has said, the business should focus on clearing up the mess and getting its own house in order.”
- Login or register to post comments
- Email this page
Related
- Suddenly, News Corp. Has Money to Burn
- Murdoch ‘unfit’ to run global company
- Brussels clears News Corp bid for BSkyB
- Hunt insists he acted fairly over BSkyB
- OFCOM escalates probe into BSkyB
- BSkyB Board Is Said to Keep James Murdoch as Chairman
- UK Turns Against Murdoch BSkyB Bid
- Murdoch Case Shifts Its Focus to a Minister
- Challenge to Murdoch grip on BSkyB
- Murdoch discuss BSkyB bid with PM
- Will News Corp’s UK Problem Become Its US Problem?
- In Britain, Calls To Regulate A Freewheeling Press
- Murdoch seeks full control of BSkyB, but meets resistance
- UK parliament aims to publish hacking report on May 1
- Ofcom spells out concerns over BSkyB bid
Location
Javascript is required to view this map.
Ratings
Recommendation:
3
Informative:
0
Accuracy:
0
Login to rate this headline.