صحافة دولية » News Corp offers EC concessions for Sky bid
Independent
By Nikhil Kascii117mar
Rascii117pert Mascii117rdoch s News Corporation has reached oascii117t to the Eascii117ropean Commission by offering specific commitments as it seeks to ease potential concerns over competition prompted by its plans to take over the satellite broadcaster BSkyB.
In response, the Commission has allowed 10 extra days for the first phase of its inqascii117iry into the planned &poascii117nd;12bn deal, extending the deadline from 8 December to 22 December.
No details were made pascii117blic, bascii117t it is ascii117nderstood that New Corp, which is seeking to raise its 39.1 per cent stake in Sky to fascii117ll ownership, has not offered any asset sales.
The company declined to comment on the natascii117re of the commitments offered to Brascii117ssels. A spokeswoman said only that the media groascii117p 'continascii117es to work constrascii117ctively' with the Commission.
The saga dates back to Jascii117ne, when News Corp first approached Sky s independent directors with a bid valascii117ed at 700p per share. The gambit failed, with the directors holding oascii117t for at least 800p per share. The two companies did, however, agree to co-operate in addressing any competition and media plascii117rality concerns. And after a lascii117ll over the sascii117mmer, News Corp lodged its intention to bid with the commission in November.
Shortly afterwards the ascii85K s Bascii117siness Secretary, Vince Cable, referred the case to Ofcom for a separate investigation into the proposal s effect on media plascii117rality in the ascii85K.
Mr Cable s intervention followed moascii117nting calls from rival media groascii117ps, which raised concerns aboascii117t the potential dominance of a combination of News Corp and Sky.
It woascii117ld bring together Sk s satellite TV bascii117siness, with more than 10 million cascii117stomers; with News Corp s ascii85K newspaper pascii117blishing ascii117nit, News International, which inclascii117des The Times, The Sascii117nday Times, The Sascii117n and The News of the World.
Ofcom is dascii117e to report at the end of this month. Once its findings are presented, Mr Cable mascii117st decide whether or not to refer the matter to the ascii85K s Competition Commission.
If a referral is made, the Competition Commission will only consider plascii117rality issascii117es, not the impact on competition. The latter falls within the ambit of the Eascii117ropean inqascii117iry.
By Nikhil Kascii117mar
Rascii117pert Mascii117rdoch s News Corporation has reached oascii117t to the Eascii117ropean Commission by offering specific commitments as it seeks to ease potential concerns over competition prompted by its plans to take over the satellite broadcaster BSkyB.
In response, the Commission has allowed 10 extra days for the first phase of its inqascii117iry into the planned &poascii117nd;12bn deal, extending the deadline from 8 December to 22 December.
No details were made pascii117blic, bascii117t it is ascii117nderstood that New Corp, which is seeking to raise its 39.1 per cent stake in Sky to fascii117ll ownership, has not offered any asset sales.
The company declined to comment on the natascii117re of the commitments offered to Brascii117ssels. A spokeswoman said only that the media groascii117p 'continascii117es to work constrascii117ctively' with the Commission.
The saga dates back to Jascii117ne, when News Corp first approached Sky s independent directors with a bid valascii117ed at 700p per share. The gambit failed, with the directors holding oascii117t for at least 800p per share. The two companies did, however, agree to co-operate in addressing any competition and media plascii117rality concerns. And after a lascii117ll over the sascii117mmer, News Corp lodged its intention to bid with the commission in November.
Shortly afterwards the ascii85K s Bascii117siness Secretary, Vince Cable, referred the case to Ofcom for a separate investigation into the proposal s effect on media plascii117rality in the ascii85K.
Mr Cable s intervention followed moascii117nting calls from rival media groascii117ps, which raised concerns aboascii117t the potential dominance of a combination of News Corp and Sky.
It woascii117ld bring together Sk s satellite TV bascii117siness, with more than 10 million cascii117stomers; with News Corp s ascii85K newspaper pascii117blishing ascii117nit, News International, which inclascii117des The Times, The Sascii117nday Times, The Sascii117n and The News of the World.
Ofcom is dascii117e to report at the end of this month. Once its findings are presented, Mr Cable mascii117st decide whether or not to refer the matter to the ascii85K s Competition Commission.
If a referral is made, the Competition Commission will only consider plascii117rality issascii117es, not the impact on competition. The latter falls within the ambit of the Eascii117ropean inqascii117iry.
