News Corp wins EU approval to buy remainder of BSkyB
(Reuters) - Rupert Murdoch's News Corp (NWSA.O) won unconditional European Union regulatory approval on Wednesday for its bid to acquire pay-TV operator BSkyB (BSY.L).
News Corp, which also owns British newspapers the Sun, the News of the World and the Times and Sunday Times, wants to buy the 61 percent of BSkyB it does not already own for 7.8 billion pounds ($12.19 billion) to consolidate the business it helped build.
"I am confident that this merger will not weaken competition in the United Kingdom. The effects on media plurality are a matter for the UK authorities," EU Competition Commissioner Joaquin Almunia said in a statement.
Britain's communications regulator Ofcom is now examining the deal to see if it would give News Corp too much control of the media in the United Kingdom.
(Reporting by Foo Yun Chee)
Credit: Reuters (www.reuters.com)
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