UK Culture secretary Jeremy Hunt has approved News Corporation's plan to spin off Sky News, clearing the way for its proposed £8bn purchase of the 61% of BSkyB it does not already own, the Guardian reported. Under the deal, the loss-making news subsidiary will be spun off into a new publicly listed company called NewsCo, and will be independently funded for 10 years. News Corporation is to license the Sky News brand to the operation for seven years, providing an incentive to renew a second funding deal.

Twitter founder Biz Stone says that the company has no plans to go public and does not need additional funding, Reuters reported.

Bloomberg has hired two more New York Times staffers for its new opinion service, Bloomberg View, reported Forbes' Jeff Bercovici in an a blog post entitled "NY Times vs Bloomberg News: It's War!" Former Times deputy editorial page editor David Shipley is heading up Bloomberg's new project.

The Daily Mail and the Sun were found guilty of contempt of court over the use of Internet photographs, Press Gazette reported. The photos in question were of a murder suspect.

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