Hunt set to accept Sky News offer

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Culture Secretary Jeremy Hunt intends to accept News Corp's plans to spin off Sky News

Culture Secretary Jeremy Hunt has said he intends to accept News Corp’s plans to spin off Sky News to address concerns over its planned takeover of BSkyB.

Rupert Murdoch’s News Corp is proposing a deal to place the news operation into a separate company, but retain a 39.1% stake in Sky News.

The move comes as News Corp seeks to avoid a full-blown competition inquiry into its plans to buy the 61% of BSkyB it does not already own after Mr Hunt said last month he planned to refer the deal to the Competition Commission.

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