UK sends Fox-Sky deal for review
Government has referred Rupert Murdoch’s planned £11.7bn takeover to regulators to decide if transaction is in the public interest
London — The British government has referred Rupert Murdoch’s planned £11.7bn takeover of European pay-TV group Sky to regulators to decide if the deal is in the public interest. Media Secretary Karen Bradley told parliament it was important to seek advice from the regulator Ofcom on whether the deal would give Murdoch and his companies too much control of Britain’s media, and whether the new owner would be committed to broadcasting standards. Murdoch’s US TV business Twenty-First Century Fox already owns 39% of Sky. Murdoch and his family have long coveted full control of Sky, despite the damaging failure of a previous attempt in 2011, when their British newspaper business became embroiled in a phone-hacking scandal. Bradley has given Ofcom a 40-day timetable to investigate, and expects to receive its report by May 16. She said Ofcom, as an independent regulator, would assess in the same time frame whether Murdoch’s company was a "fit and proper" holder of a broadcasting licence. T...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.