News Corporation has withdrawn its offer to spin off Sky News, prompting culture secretary Jeremy Hunt to confirm that the BSkyB deal will now be subject to an investigation by the Competition Commission, which will delay the final decision for at least six months.

News Corporation has said that it will work with the Competition Commission in its investigation, which will determine whether Rupert Murdoch can take over the remaining shares of BSkyB.

The investigation will take at least 24 weeks, and could be expanded by another by eight weeks, meaning that Murdoch will have to wait for a while before he finds out if his attempt to take over BSkyB will be accepted.

(Source: MediaGuardian)

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