UK Business Secretary intervenes in News Corp bid for BSkyB

British Business Secretary Vince Cable today said he was intervening in News Corp’s £12bn (€13.68bn) bid to take control of broadcasting giant BSkyB and would refer the plans to regulator Ofcom.

Mr Cable stepped in on public interest grounds over media plurality following mounting pressure from rival media groups after Rupert Murdoch’s News Corp made an offer for the 61% of BSkyB that it does not already own.

The intervention notice served requires Ofcom to investigate the proposals and report back by December 31.