News Corp. to modify BSkyB bid: Brussels

2nd December 2010, Comments 0 comments

Rupert Murdoch's News Corp. is ready to modify the terms of its controversial 12-billion-dollar takeover offer for British pay-TV giant BSkyB, the European Commission said on Thursday.

According to information on the commission's website, News Corp. told the competition regulator it was prepared to change the terms of its bid.

The commission did not detail the proposed changes to the 7.8-billion-pound offer for the 61 percent of the Sky News broadcaster that it does not already own.

Sky notably screens English Premiership football and the deal has raised hackles in some quarters that News Corp., which owns a stable of British newspapers including the Times, would have too much control of the media.

News Corp. submitted the planned deal to the commission early last month.

BSkyB rejected the offer in June as too low.

The commission on Thursday fixed December 22 for approval, at which time it can clear the deal or impose conditions so as to ensure a competitive market remains.

© 2010 AFP

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