Hunt goes back to Ofcom & OFT for BSkyB advice

Culture secretary Jeremy Hunt has written to Ofcom and the Office of Fair Trading to seek advice on News Corporation’s BSkyB takeover bid in light of the on-going News of the World saga.

Hunt has asked whether the latest phone-hacking revelations, which have led to the closure of News Corp’s NoW, would “cause [Clive Maxwell, executive director, OFT] to reconsider any part of [his] previous advice to me, or otherwise gives rise to concerns, on the credibility, sustainability and practicalities of the undertakings offered by News Corporation”.

Additionally, Hunt will ask Ofcom if the company remains a “fit and proper” owner of BSkyB and whether the closure of NoW means the media plurality landscape needs re-examination.

The culture secretary’s letter comes as fellow politicians (and Newsline’s very own Paper Boy) call for the merger to be postponed until the criminal investigations have been completed.

BSkyB’s shares fell to £7 in early trading, down 6.7% and back to the level of the original News Corp bid.

Read the full Guardian article here.