To allay concerns about media dominance, News Corp. had offered to spin off Sky News as a separate company.
On Thursday, Culture Secretary Jeremy Hunt accepted that plan. However, Hunt wants Sky News to have a senior journalist on its board, a monitoring trustee to ensure that News Corp. complies with conditions, and a requirement that Sky continue to promote Sky News on its satellite channels.
News Corp. made an initial indicative offer of 700 pence per share to buy the 61 percent of the shares it doesn't already hold, valuing BSkyB at 12.3 billion pounds ($19.8 billion).
