News Corp.’s Murdoch Says Probe May Jeopardize BSkyB Investment

James Murdoch, News Corp.’s head of Europe and Asia, said the U.K. should back the company’s 7.8 billion-pound ($12.4 billion) bid for British Sky Broadcasting Group Plc or risk losing the investment.

“The government needs to assess the benefits of having a world-leading digital TV business centered in the U.K. marketplace versus potentially jeopardizing an 8 billion-pound investment in the U.K. with a prolonged plurality process,” Murdoch said today at a Morgan Stanley conference in Barcelona. Murdoch is also chairman of BSkyB.