United Kingdom clears way for bidding war over broadcaster Sky

United Kingdom clears way for bidding war over broadcaster Sky

Britain's culture secretary says he will allow 21st Century Fox's 11.7 billion-pound ($16.4 billion) bid to buy the 61 percent of the United Kingdom satellite broadcaster Sky it doesn't already own, provided it divests itself of Sky News.

Disney said it welcomes the United Kingdom decision.

In a statement, Sky said it has welcomed the announcement and it has also noted that Mr Hancock felt that undertakings provided by Fox were a "good starting point to overcome the adverse public interest, effects of the proposed merger that he has identified". The government is happy to consider this but needs to be satisfied that Sky News will end up with a "suitable, well-resourced, committed purchaser". In particular, there were major concerns regarding the future of Sky News and over the last few months reports from the U.S. suggested that 21CF was ready to abandon the news channel to get the deal over the line. The stock rose 0.3 percent to 13.54 pounds at 3:30 p.m.in London on Tuesday.

Comcast has offered to pay £12.50 ($16.70) per share for Sky, topping Fox's bid of £10.75 ($14.40).

The government says the deal could go ahead if Mr Murdoch agrees to sell off Sky News to a credible owner.

Meanwhile, Comcast has also stated that it is in the advanced stages of preparing a superior bid for the same assets, although no offer has so far emerged.


"Sky is a gem of British broadcasting, respected worldwide".

The company is chaired by Murdoch's son James, who played a key role in building the company into a major European broadcaster with operations in Germany, Austria and Italy as well as Britain.

Separately, of course, Disney has agreed a deal to buy up most of Fox's entertainment assets, including Sky.

Its customer base now numbers almost 23 million homes, a major prize for media groups that want to scale up against online groups Netflix and Amazon.

"We now look forward to engaging with DCMS and we are confident that we will reach a final decision clearing our transaction", Fox said in a statement. Fox's approval to its $24.7 billion bid for the 61% of Sky it doesn't already own comes after 18 months of regulatory scrutiny. The CMA said earlier this year that the Fox deal would concentrate too much media power in the hands of the Murdoch family and was not in the public interest.

Related Articles

  • Discovery lands $2bn PGA Tour deal

    Discovery lands $2bn PGA Tour deal

    Discovery's Alex Kaplan will lead the new business as president and general manager of the Discovery and PGA Tour venture. Discovery has inked a long-term worldwide deal for PGA golf rights and will launch a PGA Tour-branded OTT service.
    Asensio wants Ronaldo to remain at Real Madrid

    Asensio wants Ronaldo to remain at Real Madrid

    A five-time world player of the year, Ronaldo has a contract with Madrid until 2021. "This is really important for me". The Real Madrid Forward recently won his 5th Champions League trophy with Real Madrid and has won it all.
    Microsoft's Data Centre Willingly Gets in the Sea

    Microsoft's Data Centre Willingly Gets in the Sea

    It will not be possible to fix the computers if they fail, but the hope is that there will be a lower failure rate than on land. The sea offers ready and free access to cooling - which is one of the biggest costs for land-based data centres.
  • Cristiano Ronaldo Reportedly Baffled by Real Madrid's 'Obsession' with Neymar

    Cristiano Ronaldo Reportedly Baffled by Real Madrid's 'Obsession' with Neymar

    Sources close to Ronaldo confirmed to ESPN FC in January that the Portugal captain wanted to leave the club after a new contract delay.
    Blizzard Hiring for New Diablo Game

    Blizzard Hiring for New Diablo Game

    Back in March, a report came out suggesting that Blizzard is porting Diablo 3 to Nintendo Switch . A listing for an dungeon artist on Blizzard's career page confirms the game is being worked on.
    One person died following bus crash on 401

    One person died following bus crash on 401

    Update: OPP Acting Sergeant Tina Hunt was able to confirm to Coast FM some of the information the OPP has on the incident . It's not known what caused a tour bus to veer off a highway in Ontario on June 4, 2018 and crash into a rock formation.
  • Sony Unveils the RX100 VI

    Sony Unveils the RX100 VI

    Other video features include S-Log3/S-Gamut3, 120p Full HD mode, Picture Profile, 240/480/960fps slow motion, and proxy recording. The screen tilts 180 degrees upwards and 90 degrees downward for better viewing angles when shooting stills or video.
    Flight delays expected as Singapore restricts airspace during Trump-Kim summit

    Flight delays expected as Singapore restricts airspace during Trump-Kim summit

    Sentosa is home to palm-fringed beaches, tourist sites and some of the best golf courses in Asia and Universal Studios Singapore . Donald Trump said he didn't want to use the term "maximum pressure" any more , because the two sides were 'getting along'.
    Fashion icons honored at CFDA awards

    Fashion icons honored at CFDA awards

    While receiving the award Kim said, "I am kind of shocked that I am winning a fashion award when I am naked most of the time". The joke was bold being that West's wife, TV reality star Kim Kardashian , was sitting in the audience.
  • The Premier League is coming to UK Amazon Prime

    The Premier League is coming to UK Amazon Prime

    The rivalry between Sky and BT in recent years has resulted in huge price inflation of 70% at each of the past two auctions. This means that the British telco will show 52 live games per season, up from 42 under its previous arrangement.
    Code Vein out in September | PC

    Code Vein out in September | PC

    The trailer also shows off a little more of Code Vein's combat, which is more energetic than what we typically see from the genre. Give into the bloodlust fully and risk becoming one of the Lost, fi endish ghouls devoid of any remaining humanity.
    Melania Trump appears for 1st time in 3 weeks

    Melania Trump appears for 1st time in 3 weeks

    The event was closed to media, so no official photos have been released yet. "We're used to our first ladies being out and about". Despite the operation's routine nature, Melania remained there for five days, returning to the White House on May 19.