News Corp may buy out BSkyB shareholders
12 Mar 10 - News Corp may be preparing to buy out the shares in UK satellite pay TV operator BSkyB that it currently does not own.
Local reports suggest that Rupert Murdoch's media company is set to pay £7.35 (US$11.15) per share for the remaining stake. One trader told local press: "We’re seeing interest in the media sector and have seen reports of a possible interest of Murdoch in BSkyB."
Rumours of the possible bid helped lift shares on the London stock exchange this morning, according to the Financial Times newspaper. Shares in BSkyB climbed 4.3% to £5.93.
However, some traders were reportedly unconvinced that the rumours had any substance, pointing out that News Corp already had a controlling stake with its existing 39% share. News Corp has declined to comment.