News Corp pulls out of BSkyB takeover deal

They think it's all over. It is now.

News Corporation has announced that it no longer intends to make an offer for the entire issued and to be issued share capital of British Sky Broadcasting not already owned by it.

Chase Carey, deputy chairman, president and chief operating officer, News Corporation, commented: "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."

NUJ: 'The NoW has gone but the scandal remains'

The NUJ has added its voice to demands for a debate in the Commons on Wednesday (July 13) on the proposed BSkyB deal and is calling for it to be halted pending the outcome of a public inquiry and criminal investigation into phone hacking.

NUJ general secretary Michelle Stanistreet said: “It is vital that this deal is halted until the results of the criminal investigation and the public inquiry are publicly available.

"A survey carried out at the weekend shows that only one in ten members of the public believes Murdoch is a 'fit and proper person' to run BSkyB – a damning insight into the scale of public anger about this scandal.

“The News of the World may have gone, but the scandal remains. With every day that passes, the extent of the cover up perpetrated at the highest level of News International becomes clear. The ‘smoking gun’ emails have been known about for at least four years and level of the hush money payments forked out has been staggering."

She added: “Any future press regulatory system must work to ensure the public can have trust in its media, in the democratically vital service that journalism is. The 'fit and proper' test of media ownership should now be applied to all of Murdoch’s press and media in the UK.”