No review on News Corp's BSkyB bid
By Robert Barr |
January 26, 2011, Wednesday
|
Print Edition
Print Edition
RUPERT Murdoch's News Corp yesterday gained more time from Britain's government to avoid a full competition inquiry into its bid to take full control of satellite TV service British Sky Broadcasting.
Culture Minister Jeremy Hunt, who is charged with making a final decision, announced he was inclined to refer the News Corp bid to the Competition Commission for a full review, which could take months, but that he would first allow the firm to make further concession to avoid such a move.
The government's Office of Communications, an independent regulatory agency, had earlier raised concerns about News Corp's move to acquire the 61 percent of BSkyB shares it doesn't already own, and said it should be referred to the anti-monopoly agency.
"Before doing so it is right that I consider any undertakings in lieu offered by any merging party which have the potential to prevent or otherwise mitigate the potential threats to media plurality identified in the OFCOM report," said Hunt, who met with News Corp executives earlier this month.
Hunt said he could not lay out a timetable for the next moves.
In December, the European Commission gave its blessing to the takeover, saying "the transaction would not significantly impede effective competition in the European Economic Area or any substantial part of it." However, it was left to the British government to decide about competition issues within the country.
British law demands "a sufficient plurality of persons with control of media enterprises serving the same audience in any given area of the UK." That assessment may include not only the number of enterprises but also the market shares.
News Corp already owns four major British newspapers: The Times, The Sunday Times, The Sun and the News of the World, the nation's largest. The Sun is the biggest-selling daily paper, and News of the World tops the Sunday circulation figures.
BSkyB accounts for two-thirds of pay TV subscribers in Britain.
Culture Minister Jeremy Hunt, who is charged with making a final decision, announced he was inclined to refer the News Corp bid to the Competition Commission for a full review, which could take months, but that he would first allow the firm to make further concession to avoid such a move.
The government's Office of Communications, an independent regulatory agency, had earlier raised concerns about News Corp's move to acquire the 61 percent of BSkyB shares it doesn't already own, and said it should be referred to the anti-monopoly agency.
"Before doing so it is right that I consider any undertakings in lieu offered by any merging party which have the potential to prevent or otherwise mitigate the potential threats to media plurality identified in the OFCOM report," said Hunt, who met with News Corp executives earlier this month.
Hunt said he could not lay out a timetable for the next moves.
In December, the European Commission gave its blessing to the takeover, saying "the transaction would not significantly impede effective competition in the European Economic Area or any substantial part of it." However, it was left to the British government to decide about competition issues within the country.
British law demands "a sufficient plurality of persons with control of media enterprises serving the same audience in any given area of the UK." That assessment may include not only the number of enterprises but also the market shares.
News Corp already owns four major British newspapers: The Times, The Sunday Times, The Sun and the News of the World, the nation's largest. The Sun is the biggest-selling daily paper, and News of the World tops the Sunday circulation figures.
BSkyB accounts for two-thirds of pay TV subscribers in Britain.
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