Murdoch Drops Bid for British Sky Broadcasting
LONDON (AP) - In a stunning retreat, Rupert Murdoch's News Corp. media empire dropped its bid Wednesday to take over full control of British Sky Broadcasting amid a political and legal firestorm over phone hacking at one of its British newspapers.
Murdoch was forced to step back from the biggest battle of his career over a lucrative prize, accepting that he could not win government acceptance of the takeover as Britain's major political parties had united against it.
It has become clear that it is too difficult to progress in this climate, News Corp. deputy chairman and president Chase Carey said in a brief statement to the London Stock Exchange.
Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.
Latest Stories
- Retired Illinois Appellate Court Justice and Member of the Glen Ellyn Area Alumnae Chapter of Delta Sigma Theta Sorority, Inc. Shelvin Louise Marie Hall Dies
- It’s That Time Again: Reviewing Your Medicare Plan Before It’s Too Late
- Exciting Breakthroughs in Alzheimer’s Research Offer New Hope for Patients
- C3 Impact Fund Seeks To Spur Growth In Underserved Communities Through Real estate
- HelloBaby Identifies Site For A Second Location
Latest Podcast
Quandra-Urban Market Exchange
