News Corp. formally withdraws BSkyB bid

In perhaps the least surprising move of the week, News Corp. (Nasdaq: NWSA) has officially withdrawn its bid to acquire U.K. satellite TV giant BSkyB amid growing controversy over the phone-hacking scandal involving News Corp.'s (now shuttered) News of the World newspaper.

Rupert Murdoch's media giant still owns about 39 percent of BSkyB, but its bid for the other 61 percent of the company last summer, looked to be Murdoch's step toward unquestionable dominance of Europe's satellite TV market.

For more:
- see this BroadbandTV News report

Related articles:
The News Corp.-BSkyB deal appeared to be falling apart earlier this week
BSkyB's interactve programming guide was among those profiled by FierceCable

Suggested Articles

Cable provider WOW! is launching its WOW! tv+ product in three new markets after last month pulling back on marketing for the new service.

YouTube TV’s price hike gives cable operators breathing room to run the next big TV race, which will be fought and won on the TV UX battleground.

Charter Communications said it will add five “Latino targeted TV networks” to its Spectrum TV lineup.