Lawyers take fee hit as News Corp abandons BSkyB bid

Competition lawyers advising News Corp on its bid for BSkyB have taken a blow after Rupert Murdoch’s media giant pulled its bid.

Jeremy Hunt
Jeremy Hunt

Culture secretary Jeremy Hunt referred the bid to the Competition Commission on Monday after News Corp withdrew its offer to spin off Sky News.

Allen & Overy (A&O) had been advising News Corp on corporate and competition aspects of the bid, led by London corporate partner Don McGown.

Herbert Smith competition partner Elizabeth McKnight was acting for BSkyB alongside the corporate team led by global M&A head Stephen Wilkinson.

A&O and Hogan Lovells advised News Corp earlier this year on Ofcom’s investigation into the bid, securing clearance for the client (3 March 2011).

Brussels partner Francisco Enrique González-Díaz in Brussels led the Cleary Gottlieb Steen & Hamilton team acting for News Corp on attaining clearance from the European Commission, which came through at the end of last year (21 December 2011).