Sky News could be sold by Murdoch

Top line is News Corporation has offered to sell Sky News according to Robert Peston.
http://www.bbc.co.uk/blogs/thereporters/robertpeston/2011/03/murdochs_offer_to_sell_sky_new.html

Fascinating stuff, I think it may actually be good for Sky News in the long run.

While the BSkyB news contract will make Sky News a more attractive proposition for buyers I am still not sure who would be interested and would certainly fear a takeover from the likes of Richard Desmond (although that may also face plurality issues).

Perhaps at a long shot the Abu Dhabi consortium whom they are launching Sky News Arabia with might be interested?

Been on the cards since November last ..... as I reported from MG then ....

here….

WWW.TVFORUM.CO.UK/THENEWSROOM
02-Mar-2011 @ 17:55

ITN might be interested.

The Guardian's Dan Sabbagh said different, thirty minutes ago on Twitter.

An ITN news channel would be very intriguing. I'd be interested to see whether they'd approach it as a standlone channel or in conjunction with ITV News or Channel 4 News, possibly both.

That would be my preference, an independent editorial board or a management buy out. If Sky News was sold on the open market I do fear what would become of it. Looks like there will be news tomorrow either way.

Will the channel maintain its branding as part of the deal, or would it likely be rebranded to a new name? If BSkyB continue to fund it, it maintains its identity and the current on and offscreen teams remain, it's hard to see how viewers would notice any difference.

Interesting comment from Andrew Neil ....

Looks like Murdoch can buy all of BSkyB if he sells Sky News. Likely to agree thinking nobody will buy. Then what? Closed or allowed to keep

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TWITTER.COM/#!
02-Mar-2011 @ 18:50

http://twitter.com/#!/siobhankennedy4

Guardian article summing up the situation, essentially a sale to a rival would be nonsensical from News Corp's point of view as they would end up providing funds to a rival. Looks like the remedy offered will be Sky News as an independent entity but still funded (and ultimately owned but not controlled) by News Corp.

http://www.guardian.co.uk/media/2011/mar/02/news-corporation-sky-news-bskyb?utm_source=twitterfeed&utm_medium=twitter

Really, they tried that and it failed so they shut it down, what makes taking over Sky News any more appealing?

FT breaking details of the deal between News Corp and the OFT.

Sky News will not be sold.

Instead News Corp will take a 39.1% stake in Sky News. Existing Sky shareholders will be given an equivalent stake in the new Sky News company. News Corp will guarantee 10 years funding for the channel with the new Sky News company being BSkyB's exclusive provider of news.

http://www.ft.com/cms/s/0/4188a1ae-450a-11e0-80e7-00144feab49a,s01=1.html?ftcamp=rss

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