News Corporation is seeking to spin off the Sky News channel from British Sky Broadcasting Group (BSkyB), The Wall Street Journal reports. The U.S. media conglomerate plans to proceed with its bid for the 60.9% of BSkyB it does not already own.
The new company, which will house BSkyB’s news division, will be controlled by independent directors and have an independent editorial board, adds FinancialTimes. As per the proposal, the existing BSkyB shareholders will be given an equivalent stake in the new company.
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