News Corp is close to formally notifying the European Union of its interest in fully acquiring pay TV operator BSkyB.
This comes after the European Commission asked Rupert Murdoch’s media firm how it will manage its future sports rights and production deals if it acquires the 61% of the satellite pay TV outfit that it currently does not own. Once News Corp formally notifies the EU, it will trigger the regulatory process that will investigate whether News Corp would have “unprecedented market dominance”. â¨
Earlier this year, News Corp proposed to acquire the remainder of the company at 700p-a-share that would value the pay TV broadcaster at Â£12.6 billion (14.5 billion). Although the deal was initially rebuffed it is expected to pay up to 800p-a-share to make the deal go ahead.
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