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Murdoch Moves To Consolidate BSkyB

News Corp. said June 15 that it has made an offer to consolidate United Kingdom satellite juggernaut British Sky Broadcasting, proposing to purchase the remaining 61% of the company it doesn't already own for an estimated $11.5 billion.

But both parties are still apart on price - BSkyB has said it would accept an offer of 800 pence ($11.81) per share, while News Corp. has offered 700 pence ($10.33) each. The two have agreed to work together to receive the necessary regulatory approvals and reach an agreement on an appropriate price.

Click here for the full article on Multichannel.com.