News Corp withdraws BSkyB takeover bid

News Corp has withdrawn its bid to take over the 61% of BSkyB it does not own.


Political pressure has been mounting over the proposed deal in the last week, following cross-party support of the Labour Party motion that it was in the public interest for News Corp to withdraw its takeover bid.

News International, News Corp’s UK newspaper business, came under fire for a hacking scandal at the News of the World that resulted in News International’s decision to close the newspaper.

Chase Carey, deputy chairman, president and chief operating officer of News Corporation, says: “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 Corporation remains a committed long-term shareholder in BSkyB. We are proud of the success it has achieved and our contribution to it.”

A spokesman for Prime Minister David Cameron says: “As the Prime Minister has said, the business should focus on clearing up the mess and getting its own house in order.”

BSkyB shares were down 3.5% to 668p after the news broke that News Corp had withdrawn its takeover bid. Under takeover rulings, News Corp cannot bid again for six months.

Jeremy Darroch, BSkyB’s chief executive, says: “We are delivering on our clear, consistent strategy and are building a larger, more profitable business for the long term. We remain very confident in the broadly based growth opportunity for BSkyB as we continue to add new customers, sell more products, develop our leading position in content and innovation, and expand the contribution from our other businesses. I would like to commend all our employees for their unrelenting focus throughout the offer period and thank them for their continuing support.”

Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now


Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email

If you are looking for our Jobs site, please click here