Murdoch’s News Corp withdraws bid for BSkyBJuly 13th, 2011 - 8:57 pm ICT by IANS
London, July 13 (IANS) Rupert Murdoch’s News Corp announced Wednesday it was dropping its planned bid to take full ownership of BSkyB, the largest pay-television broadcaster in Britain with over 10 million subscribers, a media report said.
The announcement came as the House of Commons prepared to vote for a motion calling on Murdoch to drop his plans, BBC reported.
All three major parties said they supported the motion.
Murdoch’s decision comes after days of reports on phone hacking by the News of the World, owned by News Corp subsidiary News International.
“We believed that the proposed acquisition of BSkyB by News Corporation would benefit both companies, but it has become clear that it is too difficult to progress in this climate,” News Corp chairman Chase Carey said in a statement.
“News Corporation remains a committed long-term shareholder in BSkyB. We are proud of the success it has achieved and out contribution to it,” he said.
British Prime Minister David Cameron Wednesday told parliament those who had committed the phone hacking offences must be prosecuted.
Cameron said News Corp should stop thinking about mergers and “sort out the mess” they made over the phone hacking.
He said police were looking at the alleged incidents of hacking and other offences affecting 3,870 people, and have made eight arrests.
The News of the World tabloid is accused of hacking into phones of crime victims, celebrities and politicians. Police identified 4,000 possible targets, leading to owner Rupert Murdoch ordering its closure.
BSkyB - the British Sky Broadcasting Group - is a satellite broadcasting company headquartered in London. BSkyB was formed in 1990 by the equal merger of Sky Television and British Satellite Broadcasting. News Corp owns a controlling 39.1 percent stake in the company.
- Those involved in phone hacking must be prosecuted: Cameron - Jul 13, 2011
- James Murdoch quits boards of Sun, Times - Nov 23, 2011
- News Corp to be split into two companies - Jun 28, 2012
- Murdoch's Sky News admits hacking emails - Apr 05, 2012
- Cameron says hacking probe to be widened, regrets hiring Coulson (Second Lead) - Jul 20, 2011
- News International CEO Rebekah Brooks quits (Lead) - Jul 15, 2011
- Murdoch waits for Ofcom report on BSkyB deal - Dec 31, 2010
- James Murdoch resigns as News International chairman - Feb 29, 2012
- Murdoch not fit to lead News Corp: British MPs - May 01, 2012
- Rebekah Brooks arrested? - Jul 17, 2011
- James Murdoch resigns from the board of News Group Newspapers - Nov 23, 2011
- News International acted decisively in phone hacking case: Brooks - Jul 20, 2011
- Murdoch quits as News International director (Lead) - Jul 22, 2012
- Rupert Murdoch urged to quit - Apr 03, 2012
- Murdoch to launch Sun on Sunday next week - Feb 20, 2012
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