LONDON (AP) – News Corp. has formally notified the European Commission that it intends to make a takeover bid for pay TV operator BSkyB, kicking off the regulatory process for a proposed buyout that has raised hackles in the U.K.
The Commission confirmed on Wednesday that it will complete an antitrust review by Dec. 8.
An unprecedented media coalition of British newspapers and broadcasters has appealed directly to the British government to take a close look at News Corp.’s bid to buy the 61% of BSkyB it doesn’t already own.
Rupert Murdoch’s British media holdings are already extensive. His stable of four national newspapers – including The Sun, Britain’s biggest-selling daily – reportedly account for 37% of the U.K.’s national press by circulation.