NewsCorp considers Sky News sale
NewsCorp could be prepared to sell Sky News or other assets in order to avoid a lengthy review of its bid to take full control of BSkyB.
The media company is trying to buy the 61% of BSkyB it does not already own and has told the government that it would consider hiving off Sky News among other options to speed up the deal, according to the Financial Times.
Broadcasting regulator Ofcom has strongly recommended the government should refer the £7.5bn bid to the Competition Commission as the takeover could reduce the diversity of news provision in the UK, according to sources close to the matter.
NewsCorp is said to want to avoid a lengthy eight-month review, during which Sky’s performance could increase its share price.
There is concern among rivals that NewsCorp, which already owns UK newspapers The Times, The Sunday Times, The Sun and The News of the World, would become too dominant in the marketplace – particularly the advertising market – should the takeover bid be successful.
Last month, NewsCorp won EU approval for the takeover and now culture secretary Jeremy Hunt is overseeing the bid.
