“Jeremy Hunt, the Culture Secretary, wrote to Ofcom, the media regulator, and the Office of Fair Trading yesterday morning to ask whether the failure of News International, News Corp’s British newspaper arm, to properly manage the News of the World could mean the takeover should be blocked. Hours later, News Corp withdrew its proposal to spin off Sky News as a financially and editorially independent unit, which would have got the merger cleared by regulators, effectively forcing Mr Hunt to refer the bid to the Competition Commission.”
Daily Telegraph, 11th July 2011
Source: www.telegraph.co.uk
