BSkyB profits could see Murdoch forced to increase takeover offer
The takeover of BSkyB by Rupert Murdoch’s News Corporation is once again being discussed with the satellite broadcaster posting a 5% profit increase in the first quarter of 2011.
The company revealed profits of £261m, which is likely to see News Corp forced to pay 850p in order to increase its current 39 per cent holding within Sky to have full ownership.
Jeremy Darroch, chief executive for Sky, said: "The business has delivered another good performance in what has clearly been a tough consumer environment and we are benefiting from the transition to more broadly based growth."
It had been suggested that Jeremy Hunt, minister for culture, media and sport who is to decide on whether the takeover should proceed, would announce his decision this week but failed to materialise.