Murdoch's Empire Warily Looks To London

It was not clear how Thursday's explosive events concerning Rupert Murdoch's London tabloid News of the World would affect other properties owned by Murdoch's News Corp. They include not only a slew of newspapers in the U.K., but also the Wall Street Journal and the New York Post in America, The Australian in Australia, the Fox broadcast network and Fox News Channel, and the 20th Century Fox film studio. Of immediate concern to the media corporation, however, is its effort to acquire the 61 percent of BSkyB, Britain's largest commercial broadcaster, that it does not already own. In recent days, Prime Minister Cameron has indicated that only the question of whether the acquisition would affect competition would be considered by regulators -- and that matter had already been settled, in News Corp's favor. Final approval had been expected to be authorized within days. But this morning (Friday) news reports indicated that the government now plans to delay a decision until at least September. While declining to name a specific date for a decision, a spokesperson for the British Department for Culture, Media and Sport (DCMS), said that its head, Jeremy Hunt, "will take as long as is needed" to reach a decision. He added, "He will consider all relevant factors, including whether the announcement regarding the News of the World 's closure has any impact on the question of media plurality." Today's London Financial Times observed that with the public anger escalating over the BSkyB deal, "behind the scenes the government had been scrambling to see if it could find a legal loophole to delay or even halt the takeover."



Tags: Wall Street - Fox News - In America


More Wall Street

Miley Cyrus Covers Up More Than Usual At FGI Night Of Stars Gala - Part 2

It truly was what it said on the tin at the Fashion Group International's 30th Annual Night Of Stars held at Cipriani Wall Street in...

Leonardo DiCaprio Shoots Scene On Wolf of Wall Street Set

'Inception' actor Leonardo DiCaprio is snapped shooting a scene on the set of his upcoming crime drama movie 'Wolf of Wall Street'. He is seen...


Sean Lennon And Friends Cover Material Girl At Occupy Wall Street

Singer songwriter and film scorer Sean Lennon; his girlfriend Charlotte Kemp Muhl; Charlotte's childhood friend Eden Rice; Rufus Wainwright and Dustin Hamman serenade the crowd...

Sean Lennon Snaps Occupy Wall Street Protestors

Singer songwriter Sean Lennon, his girlfriend Charlotte Kemp Muhl, and Charlotte's childhood friend Eden Rice (who is seen sitting in the background) visit the Occupy...



Wall Street Newsletter

Subscribe to this news alert service to receive news and reviews on Wall Street

Unsubscribe | Unsubscribe All