Rupert Murdoch to sell Sky News for takeover approval

[Viva_La_Revolution]

Source: BBC

Rupert Murdoch has agreed to sell off the loss-making Sky News.

The move is likely to be enough to win government approval for the takeover of BSkyB by his News Corp firm, the BBC's Robert Peston understands.

"Some will see that as a U-turn," said Mr Peston, as Culture Secretary Jeremy Hunt had promised to heed the advice of regulator Ofcom, who wanted the deal referred to the Competition Commission.

Read more: http://www.bbc.co.uk/news/business-12627703

[2banon]

1. this is weird..Should read: Murdock Company sells to Murdock Company

just bizarre. Murdock empire so huge that these sorts of acquisitions are painted in the press as if the owner were actually different individuals.

[Mnemosyne]

2. Welcome to DU, 2banon. Webs of propaganda and deceit prevail.

:hi:

[2banon]

3. thank you

yes indeed, the ever lasting web of deceipt and propaganda on steroids..

[Mnemosyne]

5. On steroids is absolutely the truth!

Once you begin to notice it, you can never go back to sleep.

[Turborama]

8. How about: "Rupert Murdoch offers to 'spin off' Sky News for BSkyB deal" instead?

Much better article about it from The Guardian here: http://www.guardian.co.uk/media/2011/mar/02/rupert-murdoch-sky-news-bskyb

Welcome to DU :hi:

[pam4water]

4. Is that the part of the business he son was running. The one that seem to occasionally do real news?

[muriel_volestrangler]

6. James Murdoch doesn't really run that part, but is slightly involved

He runs (ie is CEO of) News Corporation Europe and Asia, which is Murdoch's British newspapers, and Italian and Asian satellite TV.

He is also non-executive chairman of BSkyB - the only British satellite TV system, which is what Murdoch is now going to own fully (currently it owns about 40%). Part of that is the Sky News channel, which they'll do this deal with. The rest of the satellite operation is what Murdoch will get full ownership and control over, and that is what is profitable.

http://en.wikipedia.org/wiki/James_Murdoch_%28media_executive%29

[muriel_volestrangler]

7. dupe post

[muriel_volestrangler]

9. Rupert Murdoch BSkyB takeover gets government go ahead

Rupert Murdoch's News Corporation has been given government approval for its controversial takeover of BSkyB.

The green light follows News Corp's offer to spin-off Sky News as an independent company.

The decision follows concerns about the concentration of media outlets in the hands of one organisation.

Rival UK media groups dismissed News Corp's offer as a "whitewash" and said they would "vigorously contest" the takeover.

http://www.bbc.co.uk/news/business-12631875

No surprise - once Vince Cable made the faux pas of telling an undercover reporter he was 'at war' with Murdoch, and the decision was taken from him and given to the Murdoch fan Jeremy Hunt, it was always likely to happen, and the quasi-independence of Sky News (for 10 years, anyway) gives Hunt enough of a figleaf to ignore Ofcom's advice.

Notice that Murdoch retains his current 40% stake in Sky News, so that, if the government in 10 years' time likes News Corp, they may be able to take full control of it then, fairly easily, and will still have influence over it.