BSkyBBritish Sky Broadcasting
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BSkyB said in July it would acquire Sky Italia from US media giant 21st Century Fox Inc (NASDAQ:FOXA).
BSkyB said it expected to settle the offer on 12 November.
Britain's BSkyB has agreed to pay $9 billion to buy the Rupert Murdoch's pay-TV companies in Germany and Italy, taking its hunt for growth into Europe by creating a media powerhouse with 20 million customers.
Murdoch's 21st Century Fox media conglomerate owns 39 percent of BSkyB.
The purchase should give BSkyB the power to sell services and compete for rights across three key European territories, but the potential cost weighed on its share price, with the blue-chip at the top of the FTSE 100 fallers board.
BSkyB, which is 39% owned by Rupert Murdoch's 21st Century Fox, confirmed that it is in the early stages of talks about buying the tycoon's interests in the two operations, which serve about 8.5m households.
Satellite broadcaster BSkyB's shares fell as much as 8pc in early trading but rallied in the afternoon on a buoyant US market, closing down 3.5pc at 671p over fears it had overpaid for the football rights, which were compounded by the threat of increased competition from BT, and the fall took nearly 400 million pounds off the company's value.
BSkyB's previous attempt at building a portfolio of homegrown comedy had failed to produce a single hit.
LONDON: British pay-TV giant BSkyB announced Wednesday that net profits dipped in the first quarter of the group's financial year amid a "challenging" business environment.
Rupert Murdoch's News Corporation has withdrawn its bid for satellite broadcaster BSkyB following Ed Miliband and David Cameron's calls for the company to drop its plans.
The sale is understood to be a move to reassure Culture Secretary Jeremy Hunt, who is considering whether to refer News Corp's proposed pounds 7.5 billion bid for the shares in BSkyB it does not already own to the Competition Commission, the BBC said.
BSkyB reported that 32 percent of its customers now subscribe to its HD service.