UK Backs News Corp.'s BSkyB Deal

News Corp. moved one step closer to final regulatory approval for its bid to take full control of UK pay-TV giant British Sky Broadcasting Group PLC.

Jeremy Hunt, the UK minister in charge of the decision, said he is inclined to approve the bid but is holding a final one-week "consultation period," in which the public can voice any last objections to the accommodations News Corp. has reached with the government. Those concessions primarily involve an agreement to hive off the Sky News channel from BSkyB, in the interests of preserving a plurality of voices in the UK media. Once Minister Hunt issues his expected final approval, News Corp. faces the tricky task of negotiating a price with BSkyB's independent directors to buy the 60.9% of the pay-TV giant it doesn't already own. In launching another consultation, Minister Hunt, Secretary of State for Culture, Olympics, Media and Sport, said he wants to make sure the public has "every possible opportunity to comment on what is being proposed."