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FT.com / Media - Regulator reports on BSkyB-News Corp deal

LONDON, Dec 31 - A report examining whether News Corp's proposed $12bn buyout of BSkyB would give too much media power to Rupert Murdoch was sent to the British government on Friday, without being made public.

News Corp, led by Mr Murdoch, wants to buy the 61 per cent of the British satellite broadcaster it does not already own for £7.8bn to consolidate a business it helped build.

However, rivals have raised concerns that the merger would give Mr Murdoch too much influence over public opinion.

The government asked Britain's communications regulator Ofcom to examine the deal and to make a recommendation as to whether it should be referred for further inspection by Britain's Competition Commission.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman
by dvx (dvx.clt št gmail dotcom) on Sun Jan 2nd, 2011 at 12:33:09 PM EST
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