News Corporation
(ASX:NWS) head Rupert Murdoch has won approval from the British government to take full control of British Sky broadcasting Group.
The deal includes the 61 per cent of BSky it doesn’t already own.
Under the deal, Sky News would be distributed to Bsky shareholders, with News Corp retaining just under 40 per cent.
The proposal still requires approval from BSky shareholders who who want news to raise the bid.
The acquisition is the biggest in the media group’s history.
News Corp reported half year earnings of just under 1.5 billion dollars.
