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UK: Mixed news for Murdoch in US$15b Sky deal

 |  June 29, 2017

Rupert Murdoch may have to wait another six months to find out whether his long quest to buy Sky will become a reality after British authorities on Thursday asked regulators to further examine 21st Century Fox’s deal for the European satellite giant.

The announcement was part of a split decision on 21st Century Fox’s GB£11.7 billion (US$15 billion) deal to take over the remainder of Sky that it does not already own.

On the other hand, the government also ruled that Mr. Murdoch and other company executives were “fit and proper” to hold broadcasting licenses in Britain, although it deemed that allegations of sexual harassment at Fox are “extremely serious and disturbing.”

Mr. Murdoch, who is executive chairman of 21st Century Fox, has long tried to cement his legacy by adding Sky to his company’s stable of global media assets. The media mogul hopes to use Sky’s satellite network and online streaming business to keep pace in a world where more consumers watch programming on their mobile devices.

By recommending that Britain’s competition authority carry out a further lengthy, and potentially intrusive, review over what impact the deal would have on Britain’s media landscape, the government has put increased pressure on Mr. Murdoch and his family.

Full Content: BBC News

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