Culture Secretary receives regulators' reports into Fox/Sky merger

20 Juin, 2017, 17:30 | Author: Marc Bacque
  • Reuters

Culture Secretary Karen Bradley has said she will decide by 29 June whether or not to approve 21st Century Fox's proposed takeover of Sky.

In December the United States movie and TV giant, which owns 39% of Sky, announced its ambition to buy the rest of the pay-TV giant and fold it into its own operations.

In April the European Commission's competition authorities ruled the proposed merger "would raise no competition concerns" but the UK Government is set to make its own decision on whether to allow the tie-up to proceed.

Ofcom, the UK's broadcasting regulator, reported to Bradley on two public interest grounds as well as the results of a "fit and proper assessment".

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Ofcom on Tuesday afternoon gave Bradley its assessment of whether the acquisition by Rupert Murdoch's Fox of the 61% of the United Kingdom broadcaster it does not already own would be in the public interest and filed a separate "fit and proper" test of the company directors, while the Competition and Markets Authority (CMA) presented a report on jurisdiction. She will subsequently make a decision on whether the CMA needs to undertake a "phase 2", or in-depth, investigation.

She said: "I will consider these reports in detail before coming to an initial view on whether or not I am minded to refer the merger".

Further representations will be made to Bradley after she reveals here "minded to" decision and before she comes to a final conclusion on the deal.

The CMA report to Bradley will be published on her department's website on June 29th, with the Ofcom report due to be published on its site the same day.

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