News Corporation takeover bid for BSkyB the deal, the proposal was referred to Jeremy Hunt, the Secretary of State for culture, media and sport. Hunt initially elected not to refer to the deal to the Competition Commission, announcing on 3 March 2011 that he intended to accept a series of undertakings given by News Corporation, paving the way for the deal to be approved. The undertakings would have led to Sky News being severed from BSkyB. On 23 June it was reported that News Corp had reached an agreement with Ofcom to approve the takeover, on the basis of Sky News becoming a separate company. By
News media phone hacking scandal illegal acquisition of information from a mobile phone as recently as 2010. In the months following "The Guardian" article regarding Milly Dowler, the fallout from the phone hacking scandal had many adverse commercial consequences for News Corporation. "News of the World" was shut down after 168 years in business and News Corp. withdrew its $12 billion bid for British Sky Broadcasting Group plc (BSkyB), reportedly the biggest reverse of Rupert Murdoch's career. News Corp. lost its contract bid with the NY State Comptroller over concerns about the phone-hacking scandal. The legal bills and settlement of suits cost News Corp. hundreds