News Corp. (NWSA) Terminates Bid for British Sky Broadcasting Group PLC
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News Corporation (Nasdaq: NWSA) announced today that it no longer intends to make an offer for the remaining stake in British Sky Broadcasting Group PLC (“BSkyB”) that it does not already own.
"We believed that the proposed acquisition of BSkyB by News Corporation would benefit both companies but it has become clear that it is too difficult to progress in this climate. News Corporation remains a committed long-term shareholder in BSkyB. We are proud of the success it has achieved and our contribution to it," commented Chase Carey, Deputy Chairman, President and Chief Operating Officer, of News Corp.
"We believed that the proposed acquisition of BSkyB by News Corporation would benefit both companies but it has become clear that it is too difficult to progress in this climate. News Corporation remains a committed long-term shareholder in BSkyB. We are proud of the success it has achieved and our contribution to it," commented Chase Carey, Deputy Chairman, President and Chief Operating Officer, of News Corp.
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