EU regulators approve Fox plans to buy Sky

Lucy Hill
April 8, 2017

Fox, the world's fourth largest entertainment company and the maker of hit TV shows such as The Simpsons and Modern Family, already owns 39.1% of Sky.

Analysts had not expected the European Union to block the takeover after it approved Murdoch's previous attempt to take full control of Sky in 2011, a deal that was later derailed by a phone hacking scandal at his British newspapers that revealed close ties between politicians, police and media.

Ofcom is due to report back to Karen Bradley, the culture secretary, with the outcome of its investigation by 16 May.

Under EU rules, the European Commission had about a month to decide if the deal would "significantly" reduce competition.

That bid was derailed after the company - which owns The Sun and The Times - was forced to abandon the bid when it became embroiled in the phone-hacking scandal involving News International.

Captain Smith's unbeaten knock helps Pune beat Mumbai
But Rahane's dismissal meant Steven Smith took over the mantle of getting quick runs and he got stuck into the Mumbai attack. The former India and Pune captain though released the pressure by hitting the fifth delivery of the match for a boundary.

The European Commission said it saw no competition problems with Fox's bid to buy the rest of Sky that it doesn't already own, according to an emailed statement on Friday.

In December the U.S. 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. "We now look forward to continuing to work with United Kingdom authorities and are confident that the proposed transaction will be approved following a thorough review process", the company says.

It says they "compete with each other only to a limited extent".

With the reelection of a Tory government in the United Kingdom, and Donald Trump in the US, European authorities appear in no mood to fight the media titan.

British regulators are still examining the deal and should issue a decision in coming weeks.

Other reports by TheDailyFarc

Discuss This Article