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Read this: Hunt approves News Corp plan for Sky News - Media -

Summary: Under the deal, the loss-making news subsidiary will be spun off into a new publicly listed company called Newco, and will be independently funded for 10 years. News Corporation is to license the Sky News brand to the operation for seven years, providing an incentive to renew a second funding deal. News Corporation will have a 39.1 stake in the venture with the other shareholders made up of existing investors in BSkyB. - link

Hunt approves News Corp plan for Sky New…

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