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News Corporation’s proposal to acquire a controlling interest in the satellite broadcaster BSkyB has been swept away by a political storm. Although the News of the World was closed, the contagion effect spread to the US, with allegations of phone hacking of 9/11 victims. At the time of writing, these have yet to be substantiated.

For News Corporation, the focus in the coming weeks will switch to protecting other key assets in the portfolio, including its stake in BSkyB, to ensure that audience and advertising boycotts do not have any opportunity to gain traction. Maintaining value in its portfolio of…

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