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July 12, 2011

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Takeover Change

RUPERT Murdoch's News Corp has withdrawn a promise to spin off Sky News as a condition of its takeover of British Sky Broadcasting PLC.

The company's move yesterday means the government is almost certain to refer the bid to Britain's Competition Commission for a full-scale inquiry into whether the takeover would break anti-monopoly laws. If it does, the bid could be on hold for months.



 

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