MEDIA
03/08/2012 09:01 am ET Updated May 08, 2012

Report: UK regulator monitors BSkyB's license

LONDON (AP) — A report says Britain's communications regulator is monitoring allegations of phone hacking and bribery at Rupert Murdoch's London newspapers in a continuing review of whether British Sky Broadcasting is a fit and proper holder of a broadcasting license.

Murdoch's News Corp. is the largest shareholder in BSkyB with a 39 percent stake, and his son James Murdoch is BSkyB's chairman.

The Financial Times reported Friday that it had confirmed through a freedom of information request that regulator OFCOM had set up a team to monitor material emerging from the press inquiry led by Justice Brian Leveson.

The regulator potentially could force News Corp. to reduce its stake in BSkyB.

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