Murdoch faces £38.5m break-fee if bid for BSkyB does not go ahead

[Snoutport]

Source: The Independent

James Murdoch, the chairman and chief executive of News International, will have to pay a £38.5m break-fee to BSkyB if the giant media group fails to go ahead with plans to bid for the broadcaster in which it owns a majority stake.

The fee was part of the terms agreed when Mr Murdoch, who is also chairman of BSkyB, launched its controversial 700p-a- share bid last year for the shares it doesn't already own. The fee, equivalent to 0.5 per cent of the then value of the bid, covers regulatory and other costs.

Read more: http://www.independent.co.uk/news/business/news/murdoch-faces-163385m-breakfee-if-bid-for-bskyb-does-not-go-ahead-2309835.html

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Ouch.

[MADem]

1. Ah, here it is--what GOOD news!! nt

[aquart]

2. Aw, too bad.

Bet it doesn't lower executive salaries or bonuses a dime.

[DFW]

4. Murdoch can pay that out of pocket change

Unfortunately.

[salin]

6. the point isn't the payout (of course he can absorb that) - it is the scuttling of the deal

and the ability to take sole control of BskyB - a big NewsInternational (and NewsCorp) goal, that as of last week was still accepted to be moving forward.

It would be a serious and symbolic crack in the media conglomerate indicating that events are spiraling out of reach of control of the Murdochs.

[rabs]

3. Top story in NOTW this Sunday.

http://www.newsoftheworld.co.uk/notw/public/home/

Happy trails, and take Rupert with you.

[beac]

11. "Thank You & Goodbye"?????? More like

"F**k You & Goodbye" what with the background made up of previous cover stories likely based on phone hacks.

Despicable scum.

[salin]

5. Additional items: PM suggested to have been hack target - no confirmation

I heard about this on the interview with the Guardian's lead investigative reporter - now The Independent is carrying a blurb: http://www.independent.co.uk/news/media/press/was-david-cameron-a-hacking-target-2310039.html



http://www.guardian.co.uk/media/blog/2011/jul/10/news-world-hacking-scandal-live#block-3

Also - The Guardian reiterates that it's editor gave warning to Cameron about Coulson per material the Guardian had but couldn't then print due to Rees (investigator used by Coulson) awaiting trial for an axe murder) - and it was ignored.

excerpt: "There were no shortage of warnings an I know there were other Fleet Street figures who had warned Mr Cameron and he ignore them all, so that does raised questions about Mr Cameron's judgement, his stubborn insistence that he was going to take Coulson with him, but also the extent to which Coulson was vetted before he went into Dowing Street in order to see material at a very high level of security clearance."

[Sarah Ibarruri]

7. That's pocket change to the greedy, corrupt, right wing a-hole.

I can think of few more despicable human beings than Murdoch. He may be an Australian and 80, but he's been a pal to the GOP, and therefore helped do TREMENDOUS damage to the U.S.

[SpiralHawk]

8. To the regret of honorable people everywhere, Murdoch embodies Republicon Family Values

and we see the dark consequences of this everywhere

[Sarah Ibarruri]

9. Exactly, Bible banger 'family values' individual : greedy, sadistic, evil psychopath.

I have, from Reagan to the present, really, really learned to ABHOR churches for this reason. They only bring evil. Every time they are involved in politics in some way (and aren't they always doing that?) they do evil, period.

[glinda]

10. Murdoch is a non-stoppable liar and briber. Tool for bad things in society. This would be good for

the planet if he starts to tumble hard.

[Kingofalldems]

12. Hahahahahahaha