Allen & Overy (A&O) and Hogan Lovells have helped Rupert Murdoch’s News Corporation as its bid to take over satellite broadcaster BSkyB got the green light from the UK Government.
The duo were instructed by the media giant to advise it on an investigation into the proposed deal by media watchdog Ofcom. London antitrust partner Antonio Bavasso led for A&O on plurality issues relating to the negotiations, while competition partners John Pheasant in London and Catriona Hatton in Brussels led for Hogan Lovells.
While culture secretary Jeremy Hunt said the deal should go through, Ofcom had previously referred the proposed takeover to the Competition Commission.
European clearance for News Corp came last December when the European Commission concluded that the transaction would not impede competition. Cleary Gottlieb Steen & Hamilton acted for the media group on the case, with Brussels antitrust partner Francisco Enrique González-Díaz leading (21 December 2010).
The terms of the deal would see News Corp become sole controller of the broadcaster by buying the remaining 61 per cent stake it does not already own. The Sky News channel, meanwhile, would spin off into an independent, publicly listed company.