In its latest attempt to secure a green light for its takeover of pay-TV provider Sky, 21st Century Fox has filed a new set of remedies to the UK’s Competition and Markets Authority (CMA), giving two separate possibilities. The company has offered stronger measures to address media plurality concerns about it owning Sky News, and said that otherwise, Disney could buy the news channel. Fox has a 39 percent stake in Sky and is looking to get the remaining 61 percent.
The first solution offered is to legally separate Sky News from the rest of Sky, establishing the service as a distinct company within the Sky Group, with its own fully independent board and under the management control of the Head of Sky News. Fox also said the news service would get guaranteed funding for 15 years, upping the number from previous offers of five and ten ten years.
The company also offers “personal undertakings” given by its executive chairmen and CEO not to influence or attempt to influence the editorial choices made by the head of Sky News. Fox noted that over the course of nearly 30 years as Sky's founding shareholder, neither it, nor the Murdoch Family Trust, have ever sought to influence the editorial direction of Sky News.
Alternatively, The Walt Disney Company has expressed an interest in acquiring Sky News, with a view to adding it to Disney's existing portfolio of television channels. This could happen whether or not Disney's proposed acquisition of 21CF proceeds.
