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UK: Fox’s takeover of Sky referred to competition regulator

 |  September 14, 2017

The British government has confirmed that it is ordering an extensive review of Rupert Murdoch’s US$15 billion planned takeover of Sky TV.

UK Culture Secretary Karen Bradley said Thursday, September 14, that she had asked regulators to examine the takeover because of concerns over 21st Century Fox’s “genuine commitment to broadcasting standards” and the increased influence the deal would give the Murdoch family over British media.

The Competition and Markets Authority now has 24 weeks to investigate the Fox-Sky deal. That means it won’t happen before March 2018, if at all.

“I must then come to a final decision on whether or not the merger can proceed, including any conditions that will apply in order to do so,” Bradley said in a statement.

Bradley had previously voiced concerns that the combined company would have the third largest reach of any news provider in the UK, uniquely spanning television, radio, newspapers and digital publications. She raised new concerns on Tuesday, September 12, about the company’s commitment to broadcasting standards.

Full Content: Wall Street Journal

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