News Corp., Murdoch, edge closer to control of BSkyB

Rupert Murdoch's News Corp.--long rumored to want the 61 percent of UK satellite broadcaster BSkyB it didn't own--appears to have pushed that teapot to the front burner.

News reports out of the U.K. have Murdoch in London and at the BSkyB board meeting to discuss a possible deal.

Murdoch and News Corp were pilloried last week for valuing the company at some $17.7 billion, far less than many observers said the company was worth.

News Corp. is the largest shareholder in BSkyB; it controls 39 percent of the company. If News Corp. is successful in buying BSkyB, it would have complete control of the U.K.'s dominant pay-TV outlet.

News Corp. last month was rumored to have some $8.2 billion in cash and cash equivalents available.

For more:
- see this Telegraph story

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