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 (Nasdaq: NWSA) has officially withdrawn its bid to acquire U.K. satellite TV giant BSkyB amid growing controversy over the phone-hacking scandal involving News Corp.'s (now shuttered) News of the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

Altice USA is giving premium pay to its customer-interfacing employees during the coronavirus crisis, but not all cable technicians will qualify.

T-Mobile this week wrapped up the lengthy process of acquiring Sprint. With the deal done, the company may pick up where it left off on video.

The Hulu app is starting to roll out across the Comcast Xfinity X1 platform after last month showing up on the Xfinity Flex platform.