News Corp.'s BSkyB Bid in Peril?

It was less than two weeks ago that the British government gave Rupert Murdoch’s News Corp. the green light to move forward with the acquisition of British Sky Broadcasting. But that, of course, was before the newest reports of phone hacking at the News Corp.-owned News of the World came to light, leading to arrests, a public inquiry into the affair, and a significant drop in BSkyB share prices. News Corp. finally made the decision to shutter the tabloid in an attempt to salvage the BSkyB bid, but it may be too late.