Feeds

Murdoch moves for full control of Sky

What? He didn't already control it?

Top three mobile application threats

Sky shares jumped 18 per cent this morning on news that Rupert Murdoch is seeking full control of the company.

Murdoch's News Corp is offering 700p per share - an offer rejected by Sky's board of directors. Murdoch's son James has removed himself from negotiations - he is Sky's chairman as well as chairman and chief executive for News Corp Europe and Asia.

Chase Carey, deputy chairman at News Corp, said the deal would improve News Corp's geographic spread, reduce its reliance on advertising money and offer the chance to fully consolidate a business it has worked with for over 20 years.

News Corp, which already owns 39.1 per cent of the company, originally offered 675p per share. After discussions this went up to 700p per share in cash.

Sky directors said an offer in excess of 800p per share would be more likely to be accepted. Some observers suggest directors want to compensate shareholders for what will likely be a long wait for regulatory approval.

The directors have agreed to further talks with News Corp to look for an agreement and have set up a committee to deal with discussions.

Both sides stressed that none of the above guaranteed a successful takeover would take place.

News Corp said the buy would be funded by existing cash and loans. ®

Combat fraud and increase customer satisfaction

More from The Register

next story
A black box for your SUITCASE: Now your lost luggage can phone home – quite literally
Breakfast in London, lunch in NYC, and your clothes in Peru
Broadband Secretary of SHEEP sensationally quits Cabinet
Maria Miller finally resigns over expenses row
AT&T threatens to pull out of FCC wireless auctions over purchase limits
Company wants ability to buy more spectrum space in auction
EE dismisses DATA-BURNING glitch with Orange Mail app
Bug quietly slurps PAYG credit - yet EE denies it exists
Like Google, Comcast might roll its own mobile voice network
Says anything's possible if regulators approve merger with Time Warner
Turnbull leaves Australia's broadband blackspots in the dark
New Statement of Expectations to NBN Co offers get-out clauses for blackspot builds
Facebook claims 100 MEEELLION active users in India
Who needs China when you've got the next billion in your sights?
Facebook splats in-app chat, whacks brats into crack yakety-yak app
Jibber-jabbering addicts turfed out just as Zuck warned
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.