BroadcastingCulture secretary Jeremy Hunt has approved a plan from Rupert Murdoch's News Corporation to sell off Sky News, paving the way for the company's proposed bid to take full control of Sky to be approved.
Under the deal, the loss-making rolling news broadcaster will be "spun off" as a new publicly-listed company called Newco, with independent funding for the next ten years.
News Corp will licence the Sky News brand to the operation for seven years, offering an incentive for the company to pitch for a second funding deal. Murdoch will retain a 39.1% stake in the company, with the remaining shares held by existing shareholders in Sky.
To ensure editorial independence and integrity for Sky News, the company would have a board made up of independent directors, including an independent chair, as well as a corporate governance and editorial committee.
News Corp would also be prevented from increasing its shareholding in the company without first getting permission from the Secretary of State for the next ten years. Hunt's decision will now go out to a 15-day consultation, expiring on March 21.
"Informed by advice from the regulators, I believe that these will address concerns about media plurality should the proposed News Corporation/Sky merger go ahead," said Hunt.
"The undertakings offered would ensure that shareholdings in Sky News would remain unchanged, and indeed offer it more independence from News Corporation than it currently has."
The move paves the way for News Corp to complete its ÂĢ8 billion purchase of the 60.9% of Sky that it does not already own, bringing together the UK's biggest newspaper group with its largest pay-TV broadcaster.
However, opponents of the takeover, including the owners of the Daily Mail, The Daily Telegraph and The Guardian, have vigorously opposed the deal on grounds that it would reduce the plurality of voices in the British media.
Hunt said that he is "very aware" of the controversy around the proposed merger, but feels that his handling of the approval process has reflected that.
"Throughout this process I have been very aware of the potential controversy surrounding this merger. Nothing is more precious to me than the free and independent press for which this country is famous the world over," he said.
"In order to reassure the public about the way this decision has been taken I have sought and published independent advice at every step of the way, even when not required to do so by law. And I have followed that independent advice."
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(Pay back time for all the support Murdoch gave the Tories during the election.IMO)
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erinp you are not alone I am thinking the same and hoping no deals were made 
How can we be absolutely sure that Sky News will be completely and utterly independent.
No Murdoch influence whatsoever.
Perhaps it's me but the very word "Murdoch" makes me cringe!
No Murdoch influence whatsoever.
Perhaps it's me but the very word "Murdoch" makes me cringe!
Welcome to the Murdochracy.
Is anyone surprised?
It was alwasy going to go through, If only Cable could of kept quiet,
In saying that, who knows if he would of been bought in the end.
In saying that, who knows if he would of been bought in the end.
Originally Posted by brisket:
Perhaps it's me but the very word "Murdoch" makes me cringe!
it makes me think of 6000 sacked British workers.
What a complete hunt.
Depressingly inevitable that the Tories would rubber stamp this.
The pledges from Murdoch are token and once again, the sitting government are handing Murdoch exactly what he wants. In ten years time after much lobbying and filling his titles with propaganda he'll buy Sky News (or shut it down) and fill it with right wing demagogues like Glenn Beck.
Call me a conspiracy theorist but I think Cable intentionally messed up to have himself taken off the job. I found it too good to be true when Cable was announced as the minister responsible for overseeing this decision. No way would the Tories thwart Murdoch, and true to form, they haven't.
It's incredible that successive governments have sold out British culture and democracy to an American who doesn't live here or pay hardly any British taxes. An American who has dumbed down British media with sleaze, lies and dirty tricks. An American who makes no attempt at representing alternative opinions to his own right wing dogma and an American who believes that the best way to debate politics is to misinform, dumb down and talk down your opponents - and if that doesn't work, just deny them a voice in the first place.
The pledges from Murdoch are token and once again, the sitting government are handing Murdoch exactly what he wants. In ten years time after much lobbying and filling his titles with propaganda he'll buy Sky News (or shut it down) and fill it with right wing demagogues like Glenn Beck.
Call me a conspiracy theorist but I think Cable intentionally messed up to have himself taken off the job. I found it too good to be true when Cable was announced as the minister responsible for overseeing this decision. No way would the Tories thwart Murdoch, and true to form, they haven't.
It's incredible that successive governments have sold out British culture and democracy to an American who doesn't live here or pay hardly any British taxes. An American who has dumbed down British media with sleaze, lies and dirty tricks. An American who makes no attempt at representing alternative opinions to his own right wing dogma and an American who believes that the best way to debate politics is to misinform, dumb down and talk down your opponents - and if that doesn't work, just deny them a voice in the first place.
Oh look the Tories approve that ******* 's buying of a majority in SKY...what a shocker|!
Jim Naughtie got it right
Anyone know how much Murdoch has donated to the Tory Party etc?
Sky News did a job on Gordon Brown at the election. It's payback time now! I doubt anyone in their right mind actually thought the Tories wouldn't rubber stamp this deal.
Thank God for the BBC. Long may it reign (but I fear for it)
Amen Avalon,I grumble about the License fee etc,however when compared to the Murdoch "Empire" it's worth every penny.despite "Call me Dave".I have SKY (I don't pay for it ,my niece does)She wants to record all the shows she likes,even though she has her own flat now and has BT Vision...so maybe I'm a hyocrite etc.
Call me Dave is worrying me quite a lot, Katty. Did you hear his sabre-rattling the other day, showing off and talking about taking military action against Gadaffi? Then he realised that he was singing from a different hymn sheet to the Americans and started to back track. If Dubya had still been in power God knows what would be happening now.
Well the current SKY advert is "A pound a day" hello! 365 quid! plus the license fee..
kattymieoww,
I don't think Murdoch gives anything to the Tories. He doesn't have to. They, like Labour before them, will bend over backwards to have king-maker Murdoch give them his nod of approval.
I don't think Murdoch gives anything to the Tories. He doesn't have to. They, like Labour before them, will bend over backwards to have king-maker Murdoch give them his nod of approval.
This may not make the slightest difference but .............it's worth a try?
A petition!
http://www.avaaz.org/en/stop_r...51751a1b60659aed6117
A petition!
http://www.avaaz.org/en/stop_r...51751a1b60659aed6117
Thanks Soozy...
Avalon Moonlight
Thank God for the BBC. Long may it reign (but I fear for it)
Quite, so do I. I expect The Sun, Times, News of the World will put out all the stops now to undermine the licence fee. The licence fee is the only thing stopping Murdoch from having all British media and culture in his pocket. The sell out of media by complict governments over the last forty five years has led to this. Labour really should have taken a punt on rolling back the Murdoch empire when it had the chance but that was never likely to happen when Blair was in charge.
Thank God for the BBC. Long may it reign (but I fear for it)
Quite, so do I. I expect The Sun, Times, News of the World will put out all the stops now to undermine the licence fee. The licence fee is the only thing stopping Murdoch from having all British media and culture in his pocket. The sell out of media by complict governments over the last forty five years has led to this. Labour really should have taken a punt on rolling back the Murdoch empire when it had the chance but that was never likely to happen when Blair was in charge.
All I will say is that the old Naughtie got his name right after all. 