A PYMNTS Company

UK: Murdoch’s Sky purchase delayed until 2018

By  |  July 16, 2017

A planned US$15 billion takeover of Sky by 21st Century Fox faces many more months of scrutiny by UK officials after Murdoch declined to offer new concessions to protect Sky’s editorial independence, according to sources familiar with the matter.

UK culture secretary Karen Bradley said last month that she would order an additional review of the deal unless Fox were able to assuage concerns that it would give the Murdoch family too much influence over British media. The deadline for Fox to submit new proposals was midday ET on Friday, July 14.

Fox said last month that it expected an investigation by the CMA to take at least 24 weeks and prevent the transaction from closing before June 30, 2018.

Should her ruling be challenged, the UK government could be forced to defend the decision in court. That possibility puts pressure on Ms. Bradley to carefully weigh the feedback she will receive.

Full Content: Irish Examiner

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.