UK Official OKs $13B News Corp.-BSkyB Merger

Law360, New York (March 3, 2011, 1:48 PM EST) -- A key U.K. official on Thursday blessed News Corp.'s estimated $13 billion acquisition of British Sky Broadcasting PLC, an approval that could allow the merger to bypass a prolonged regulatory investigation.

Culture Secretary Jeremy Hunt said he intended to accept certain proposals News Corp. had offered to soothe concerns over the politically charged deal, rather than refer the merger to the U.K.'s Competition Commission.

Under the terms of the proposal, Sky News would be split off into a new, independent company called Newco.

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