Murdoch Withdraws Bid For BSkyB

On Wednesday, News Corp announced it is withdrawing its bid for full control of British broadcaster BSkyB. The announcement came as Parliament debated the Murdoch newspaper scandal and prepared to vote across party lines against the BSkyB deal. Prime Minister David Cameron strongly condemned News Corp practices and announced an inquiry into the hacking scandal, police corruption, and Murdoch's influence on the political establishment — an influence that is now greatly diminished.