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.
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.