Friday 25 February 2011

FT: News Corp close to agreement on BSkyB

News Corp is close to an agreement with UK regulators over a remedy for concerns about its £13.2bn bid for BSkyB, according to the Financial Times.

The FT says after a series of discussions with the Office of Fair Trading, Rupert Murdoch’s media group is much nearer than previously reported to satisfying objections that combining full ownership of BSkyB with its other assets would reduce the diversity of news provision in the country.

It adds: "Details of the remedy, which could be announced as soon as next week, have not yet emerged, but two people familiar with the discussions said it was “structural” rather than “behavioural”.

"That signals that instead of offering promises about how it will keep BSkyB’s Sky News operations and its News International titles separate, News Corp is discussing ways in which it could surrender control of the 24-hour satellite news channel which would satisfy the OFT."

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