Business

Fox Could Sell Sky News To Disney Under New Proposal

Fox Could Sell Sky News To Disney Under New Proposal”

The complicated tryst would see Murdoch's 21st Century Fox acquire the remaining 61% stake in Sky, adding the broadcaster to an established stable of news outlets operating as News UK, whose assets include The Times, The Sun and TalkSport.

But although the deal was approved by European authorities, it was knocked back by Britain's competition watchdog, who said in January that it is not in the public interest because it would give the global media mogul Rupert Murdoch and his family "too much control" over the country's media.

In a statement on Tuesday, Disney said the Sky News deal would be "separate from, and not conditional on, Disney's acquisition of Fox". Under this proposal, Sky News would operate entirely independently with guaranteed funding by 21CF for 15 years.

Another proposal is that Sky News would be legally separated from the rest of Sky, in a bid to ensure its editorial independence.

Analysts at Liberum said they think Fox's proposed remedies should be enough to overcome the CMA's concerns on news plurality. Fox now owns more than a third of Sky's shares and has bid $16.5 billion for the remaining stake in the company.

"In the wider picture, Disney are more focused on the entertainment side of the business whereas Fox are more news focused", he told City A.M. While that situation plays out, Fox is continuing to attempt to get its bid approved by United Kingdom authorities, which have expressed a series of concerns that have delayed completion of the deal. The Murdoch family's news outlets are now consumed by almost a third of the UK's population across TV, radio, online and newspapers.

United Kingdom regulators have been anxious that a takeover of Sky would give Murdoch - whose News Corp. owns The Times, The Sunday Times and The Sun newspapers - too much sway over British media. The principle reason behind this was broadcasting standards and plurality concerns. It added: "As the regulatory process remains ongoing, shareholders are advised to take no action at this stage".

"We are aware that a group of politicians that is opposed to the transaction is seeking to influence the CMA and is making a number of unsupported and fanciful assertions", it concluded.

Fox is meanwhile ramping up its Sky takeover efforts after United States cable giant Comcast offered more than £22 billion for the entire group in February.

"The fact that Disney has agreed to this today suggests that the next thing to expect is a revised bid from Fox/Disney for Sky, to match or beat Comcast's offer".



Like this

Latest


04 April 2018
Kentucky, Oklahoma Teachers Rally Against War on Public Education
On Friday, teachers shut down a number of schools by calling in sick in what was described as a "sickout" on social media. The $50 million increase in funding from the state "will buy less than one textbook per student in Oklahoma", she said.

04 April 2018
SpaceX launches reused rocket and spacecraft to International Space Station
A few minutes after takeoff, the first stage engines cut off, having carried Dragon out of the Earth's atmosphere. The Dragon will remain at the ISS until May, when the Expedition 56 crew will ship it back to Earth.

04 April 2018
Putin and Erdogan launch construction of Turkey's first nuclear reactor
The three countries are sponsoring a series of efforts in a bid to end the seven-year war. On Wednesday, they will join Iranian President Hassan Rouhani to discuss Syria .

03 April 2018
Connecticut Rep. Esty not seeking re-election
Ricci on Monday. "It certainly was far from a flawless process - and I would appreciate their advice, counsel, and review". Governor Malloy said, "Congresswoman Elizabeth Esty's decision not to run for another term is the right one".

02 April 2018
Gregg Popovich indicates confusion, disconnect between Kawhi Leonard's 'group' and the Spurs
Leonard is now in NY undergoing further evaluation and rehab on his quad, which has limited him to just nine games this season. The first time came ahead of the February All-Star break, where he spent three weeks nursing his quad injury.

02 April 2018
Overwatch Uprising Event Returns
The PvE Brawl mode features Reinhardt, Tracer, Torbjorn and Mercy and players are randomly assigned a character. It's hard to see the name of the file, but one can only assume it's something top secret; i.e, Blackwatch .

01 April 2018
SpaceX launches 10 satellites into orbit on Falcon 9 rocket
You can also assemble a rocket in a game-like AR interactive for an up-close look at what it takes to launch and land a rocket. It is, however, expected to try to recover the rocket's "fairing, " or nosecone, using a large ship dubbed Mr.

28 March 2018
A space lab is hurtling towards earth (but don't panic)
A defunct Chinese space station is falling to Earth at 17,400 miles per hour and orbits about every 90 minutes. Tiangong-1 was China's first space station, launched in 2011, and visited just twice by Chinese astronauts.

28 March 2018
Israeli warplanes hit Hamas in Gaza overnight
A military spokeswoman told AFP that no projectiles were actually fired at Israel, with the Iron Dome possibly set off by machine gunfire in Gaza.

28 March 2018
Baright to host Easter egg hunt
Chapel Park in Pine City was filled with five thousand Easter eggs on Saturday, however not all of them were your typical eggs . Tyler: "did you have fun storming the field?" For more information, go to search "WHOP'er Egg Hunt" on Facebook .



Recommended