Fox Takeover of Sky Referred to British Media Regulator

Sky TV Logo
Courtesy of SKY

21st Century Fox’s £11.7 billion ($14.3 billion) takeover offer for European pay-TV operator Sky is to be investigated by the British media regulator Ofcom.

Karen Bradley, the British government’s culture secretary, has referred Fox’s bid to acquire the 61% of Sky it does not already own to the regulator to look into two public interest issues. The first is whether the deal will affect media plurality; in other words, would it give the Murdoch family, which controls the Sun, Times and Sunday Times newspapers, too much influence in the U.K. The second is whether it will adversely affect the editorial quality of the broadcaster’s output.

Separately, Ofcom will look at whether Fox passes the so-called “fit and proper” test for media owners, which is likely to examine the phone-hacking scandal at the Murdoch-owned News of the World newspaper.

Fox said in a statement: “We are confident that a thorough review of our track record over 30 years will underscore our commitment to upholding high broadcast standards, and will demonstrate that the transaction will not result in there being insufficient plurality in the U.K.”

It added: “The media market has changed dramatically in recent years, as has our business. We believe our proposed £11.7 billion investment will benefit the U.K.’s creative industries.”

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading