News Corp. closes in on BSkyB full control

News Corporation is close to agreeing full control of satellite broadcaster BSkyB after getting the backing of the UK government.

Under proposals approved by the Culture Secretary Jeremy Hunt, Sky News would become an independent public limited company to satisfy concerns that News Corp. would have too strong a voice in the UK media.

News Corp., owners of the Asian Star TV channels, The Sun, News Of The World, The Times and The Sunday Times, wants to buy the 61 percent of BSkyB that it doesn’t already own.

The Culture Secretary’s decision is aimed at preventing a Competition Commission inquiry.

However, the plans are now put out for a public consultation which ends on 21st March.

Last year, the European Commission cleared News Corp’s plans, saying a buyout of BSkyB would not “significantly impede” media competition within Europe.