Rupert Murdoch's multi-billion dollar bid to take full control of British satellite TV company BSkyB has hit more regulatory delays, which could end up costing the company big if the deal is eventually given the green light.

One sticking point is how much -- if any -- control Murdoch should have over Sky News, a news channel owned by BSkyB. Regulators are currently evaluating a proposal to spin off Sky News if Murdoch takes full control of BSkyB.

As Media Matters documented earlier this year, the months-long regulatory battle over BSkyB and Sky News prompted News Corp. to submit a report to the U.K. government acknowledging that Fox News is “opinionated news.”

From The Hollywood Reporter:

In a move that will likely make the deal more expensive for Rupert Murdoch, Culture Secretary Jeremy Hunt said Thursday that there is “no fixed deadline” for a decision on News Corporation's planned takeover of BSkyB.

Further examination of the antitrust and media plurality concerns arising from the deal -- which is expected to value Sky at over $12billion -- could take over a month, well beyond guidance on the original timetable.

Speaking at a briefing with journalists, Hunt said his department was examining over 40,000 submissions to his proposal to allow BSkyB to hive off Sky News as a condition of signing off on the deal, and that the issue was being thoroughly evaluated.

[...]

Earlier expectations were for the deal to be concluded by the end of April. Shares in BSkyB have steadily risen to 844p ($13.60) since the deal was proposed almost a year ago, meaning that Rupert Murdoch's opening offer of 700p per share is woefully below the current Market price of the hugely profitable satellite player. Some analysts predict that the price that Sky's non-executive directors will accept could be as high as 1050p per share, more than 30 percent higher than Murdoch's original offer.

At the same time the continued weakness of the dollar in relation to U.K. sterling means that the deal is also more expensive on currency terms.