World | Europe

January 23, 2018

Rupert Murdoch Sky bid 'not in public interest', says UK regulator

Britain’s competition regulator told Rupert Murdoch his $15 billion takeover of Sky was not in the public interest and would be blocked unless there was a way to prevent the tycoon from influencing the network’s news output.

The initial ruling complicates a plan by Walt Disney Co to buy the majority of Murdoch’s assets, including Sky. Disney had hoped that Murdoch would have taken full control of the European broadcaster by the time the U.S. group completed its takeover.

Murdoch’s Twenty-First Century Fox agreed to buy the 61% of Sky it did not already own in December 2016, re-igniting a political row about the influence he wields through his ownership of newspapers and his current 39% stake in Sky, the biggest pay-TV platform.

The government, which will take the final decision on the deal, asked the Competition and Markets Authority to judge if Murdoch had too much influence in Britain and would uphold broadcasting standards.

CMA provisionally finds Fox/Sky deal not in the public interest

Text by Fortune
 

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