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Broadcast News
15/06/2010
News Corp In BSkyB Takeover
Rupert Murdoch's News Corporation is currently in talks to take over satellite broadcaster BSkyB.
The company said it was currently offering 700 pence per share, which values BSkyB at around £12bn.
Although Sky have said the offer remains too low, the two sides are still in negotiations, Sky stating it wanted "in excess of 800p."
News Corporation currently owns 39.1% of BSkyB. News of the bid has pushed shares in BSkyB up by 21%.
In early trading in London, the stock had risen 126.50 pence to 727 pence.
A deal will further enhance News Corp power as the most successful traditional media groups in the UK. Murdoch's News Corporation also owns the Sun, Times and News of the World newspapers.
A combination of both broadcast and print media, are said to generate annual revenues of around £8bn.
(BMcN/GK)
The company said it was currently offering 700 pence per share, which values BSkyB at around £12bn.
Although Sky have said the offer remains too low, the two sides are still in negotiations, Sky stating it wanted "in excess of 800p."
News Corporation currently owns 39.1% of BSkyB. News of the bid has pushed shares in BSkyB up by 21%.
In early trading in London, the stock had risen 126.50 pence to 727 pence.
A deal will further enhance News Corp power as the most successful traditional media groups in the UK. Murdoch's News Corporation also owns the Sun, Times and News of the World newspapers.
A combination of both broadcast and print media, are said to generate annual revenues of around £8bn.
(BMcN/GK)
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