On the surface, News Corp (NSDQ: NWS) appears to remain hopeful that its intended acquisition of the 61 percent of UK TV provider BSkyB (NYSE: BSY) it does not already own will have a smooth ride through the standard regulatory course. Today the company issued a letter stating its “priority is to continue to cooperate with the Secretary of State for Culture, Olympics, Media and Sport and the existing regulatory process.”
But in reality, it looks like an increasingly bumpy road ahead. Just moments ago, the UK regulator Ofcom also issued a statement, in the form of a letter to John Whittingdale, the chairman of the culture, media and sport committee in the House of Commons, which reiterated that the broadcasting regulator was continuing to monitor the situation, specifically as it related to a future owner of BSkyB being a “fit and proper” owner in terms of its conduct.
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