SIP and Betfred in final Tote race May 31, 2011 THE winning bid for the Tote is set to be announced tomorrow – with frontrunners Sports Investment Partners (SIP) and bookmaker Betfred neck and neck at the finish. A Sky News report yesterday suggested SIP chief Sir Martin Broughton had increased the value of his offer to the Treasury by £2m and the overall value [...]
Hedgies nurse losses after BSkyB sell-off July 13, 2011 THE frantic sell-off of BSkyB shares following the collapse of News Corp’s bid cost arbitrage investors hundreds of millions of pounds as they liquidated their holdings overnight, data showed yesterday. BSkyB’s share price has plunged 18 per cent in the past week as merger arbitrage funds, which buy shares in both a target company and [...]
Hedgies nurse losses after BSkyB sell-off July 13, 2011 THE frantic sell-off of BSkyB shares following the collapse of News Corp’s bid cost arbitrage investors hundreds of millions of pounds as they liquidated their holdings overnight, data showed yesterday. BSkyB’s share price has plunged 18 per cent in the past week as merger arbitrage funds, which buy shares in both a target company and [...]
City of London blasts English Heritage over Broadgate move June 3, 2011 THE City of London yesterday hit out at English Heritage’s decision to recommend listing the Broadgate estate, saying that such a listing would “damage the City’s reputation as a global financial centre.” The comments, made by the City of London’s policy chairman Stuart Fraser, follow a long-awaited announcement by English Heritage yesterday. The City of [...]
News Corp closes on deal June 2, 2011 RUPERT Murdoch’s News Corp has agreed a deal with regulators to buy the remaining shares it does not own of British Sky Broadcasting. Culture secretary Jeremy Hunt, the minister with responsibility for the merger decision, will call a second, one-week consultation process. He will then decide whether to refer the deal to the Competition Commission [...]
BROADGATE LISTING SPAT May 24, 2011 Q. WHO DECIDES WHETHER TO LIST BROADGATE? A. The final decision will rest with the culture secretary, Jeremy Hunt. He is obliged to consider what English Heritage wants, as it is a statutory adviser on conservation matters. It is unusual for a listing to defy English Heritage’s wishes, but not unheard of – for example, [...]
News Corp’s bid for BSkyB gets approval June 30, 2011 JEREMY Hunt finally waved through News Corp’s proposed bid for BSkyB yesterday after accepting a string of concessions over Sky News. The decision from the culture secretary (pictured) marks the end of a long period of negotiations between the media giant, Department of Culture officials, the Office of Fair Trading and Ofcom. The decision will [...]
City MP throws his weight behind Broadgate campaign June 7, 2011 MARK Field, the MP for the Cities of London and Westminster, has thrown his weight behind our campaign to allow a new development on the Broadgate estate. Field, whose constituency is home to the 1980s development, said English Heritage was wrong to recommend the site for a Grade II* listing last week. If culture secretary [...]
UK clears News Corp’s Sky deal June 30, 2011 News Corp secured British government backing for its buyout of BSkyB after the minister responsible rejected complaints the move would give Rupert Murdoch too much power and influence. The Department of Media gave its blessing to the multi-billion-dollar deal after News Corp agreed to spin off BSkyB’s influential Sky News channel to ease competition concerns [...]
BUREAUCRATS LOSE BROADGATE BATTLE June 14, 2011 VICTORY FOR CITY A.M. CAMPAIGN CULTURE secretary Jeremy Hunt will not save the Broadgate estate from demolition, City A.M. can reveal, marking a victory for our campaign against bureaucrats that wanted to protect the site. Hunt is expected to announce today that he is rejecting advice from conservation body English Heritage, which recommended that the [...]