Rupert Murdoch's News Corporation has been given the green light to try to buy the remaining shares in BSkyB, but will be forced to spin out Sky News into a separate entity.
Following a recent spate of layoffs at News Corporation-owned MySpace, the media giant has revealed that it is actively looking to sell or spinout the ailing social network.
News Corporation is rumoured to be considering laying off half of MySpace's workforce, which currently totals 1,100 employees.
Rupert Murdoch's News Corporation is reportedly set to team up with Apple to launch an iPad newspaper called 'the Daily' this month.
News Corporation has launched a new version of its social networking website MySpace, with a renewed focus on music and entertainment.
News Corporation-owned MySpace is now offering its users the option to sync with rival social network Facebook and micro-blogging site Twitter.
Steve Jobs has toppled Google founders, Larry Page and Sergey Brin off the top of this year's influential Media Guardian 100 list of the most powerful people in the media.