Rupert Murdoch's News Corporation has announced that it is dropping its planned bid to take full ownership of satellite broadcaster BSkyB.
The announcement came as the House of Commons prepared to vote for a motion supported by all major party leaders calling on Mr Murdoch to do so.
The move follows a scandal over phone hacking by its UK newspaper group.
News Corp chairman Chase Carey said the bid had become "too difficult to progress in this climate".
The scandal has already led to the closure of the UK's biggest-selling newspaper, the
News of the World.
Posted: Wed Jul 13, 2011 3:59 pm