Murdoch’s BSkyB Deal Put on Hold

Amid a snowballing hacking scandal, Rupert Murdoch’s News Corp. has declared it will not spin off Sky News as previously promised, which had been a condition for the company's plan to take full control of the British broadcasting network BSkyB. Not that it will matter much now: The British government has referred the case to an anti-monopoly review, which will likely put the bid on hold for months. “It is unlikely that approval could be granted until the criminal investigation into phone hacking and subsequent related public enquiries have been completed, which could take years,” said one analyst. This would be a major setback for Murdoch and his global media empire.