Updated: News Corporation Bid For Sky Hits Complications

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"Updated: News Corporation Bid For Sky Hits Complications"

According to Bloomberg’s Lizzy O’Leary, the Murdochs have withdrawn their bid to take over the BSkyB network. That seems prudent. I doubt that as the phone hacking scandal spread, the bid would have been approved in any case. And the extent to which that practice was used raised critical questions about the wisdom of company leaders and internal decision-making standards. I don’t know what it’ll take for the Murdochs to clean house after this disaster of judgement, but it’ll be intriguing to see if reevaluations of the company’s news-gathering practices end up impacting the Murdoch family’s holdings on this side of the Atlantic.

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Looks like Bloomberg jumped the gun a bit on this one. News Corp’s just making a move that triggers a regulatory review of the deal. It still might go through. Still, it’s interesting to see what’s going to materialize from this.

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