Ofcom to make sure Fox 'fit and proper' for Sky takeover

Thursday 16 March 2017 | 15:50 CET | News

The UK government has asked regulator Ofcom and the Competition & Markets Authority to look into 21st Century Fox's proposed GBP 11.7 billion acquisition of the 61 percent of Sky it does not yet own. Secretary of State for Culture, Media and Sport Karen Bradley has asked Ofcom and the CMA to report by 16 May on the expected effects of the deal.

Ofcom is tasked with assessing the public interest with respect to media plurality and commitment to broadcast standards. In short, Ofcom must make sure Fox is "fit and proper" to hold Sky's broadcasting licence and does not have too high a concentration of market power. Ofcom has opened the matter to consultation and is inviting comment submissions by end March.

Bradley said she was prompted to intervene after hearing from over 700 third parties about concerns with the deal. After receiving the reports from the regulators, she will take the final decision on the takeover. The acquisition is also subject to approval by competition authorities at the European Commission. 

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

::: add a comment