Murdoch’s Fox cleared for Sky takeover bid

Latest news

    Rupert MurdochImage copyright Getty Images

    The UK government has cleared a proposed deal for Rupert Murdoch’s 21st Century Fox to buy Sky.

    The British broadcaster has been the subject of a fierce bidding war between Fox and US cable giant Comcast.

    Comcast’s bid has already been cleared, and Culture Secretary Jeremy Wright said Fox can go ahead if it sells Sky News.

    Fox has been trying to get approval from UK regulators since 2016 to buy the 61% of Sky it does not already own.

    Politicians and regulators were concerned it could give Mr Murdoch too much power over the media in the UK.

    There were also worries about Sky News’ long-term financial viability, and how independent it would be editorially.

    In January, the Competition and Markets Authority said the deal would not be in the public interest on the grounds of “media plurality”, although it found Sky’s broadcasting standards to be up to scratch.

    Fox has been trying to address the regulatory concerns through concessions, including agreeing to sell Sky News.

    US media giant Comcast threw its hat into the ring in February with a £22bn offer for Sky, trumping an offer from Fox, and starting a bidding war.

    On Wednesday the battle for Sky escalated, with Comcast offering a £26bn deal less than a day after 21st Century Fox increased its offer to £24.5bn.

    View the original article: https://www.bbc.co.uk/news/business-44805046

    https://www.bbc.co.uk/news/business-44805046

    In the same category are

    Katie Summerhayes: British freestyle skier ruptures knee ligament for third time Summerhayes finished seventh in the slopestyle final in Pyeongchang in FebruaryTwo-time Olympic freestyle skier Katie Summerhayes has ruptured her an...
    Sparks fly from Canvey Island power lines in high winds Residents in a street in Essex had a shock when sparks began to fly from overhead power cables.The unexpected light show in Nevada Road, Canvey Island...
    Kik chat app ‘involved in 1,100 child abuse cases’ Image copyright Getty Images One teen chat app has featured in more than 1,100 child sexual abuse cases in the last five years, the BBC has found.Of...
    The 10-year fight to offer a cheaper drug Image copyright Shidlovski Image caption Wet age-related macular degeneration (AMD) affects 26,000 people The right to offer patients a choice to ...
    ‘Snapchat queen’ Fatima Khan jailed for killing boyfriend Image copyright Met Police Image caption Fatima Khan said she was ashamed of the video she made of Khalid Safi's dying moments A woman who filmed ...
    ‘Snapchat queen’ Fatima Khan jailed for killing boyfriend Image copyright Met Police Image caption Fatima Khan said she was ashamed of the video she made of Khalid Safi's dying moments A woman who filmed ...

    Leave a comment

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.