BSkyB Likely to Buy Back Shares

Regroup

Updated Apr. 24, 2017 3:17PM EDT / Published Jul. 27, 2011 6:56PM EDT

David Jones, PA / AP Photo

Just one more nail in the coffin for the News Corp.–BSkyB deal. The British broadcaster is likely to buy back some of the shares once sought by News Corp. as it attempts to regroup from the failed deal. Long a considered a prized deal for Rupert Murdoch’s News Corp., the corporation abandoned its bid on July 13 to take over roughly 61 percent, worth about $12 billion. Now BSkyB is likely to announce it will be buying back as much as $1.64 billion of the shares. The 14-member board is expected to meet Thursday to discuss its earnings report—due out Friday—and what to do about its chairman, News Corp. deputy COO James Murdoch.

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BSkyB Likely to Buy Back Shares

David Jones, PA / AP Photo