Fox Beefs Up Sky News Remedies in Bid for Deal OK
Posted in: Uncategorized21st Century Fox bolstered remedies in a bid to win regulatory approval for its takeover of European pay-TV broadcaster Sky, seeking to address concerns that the deal would give billionaire Rupert Murdoch too much influence over British media.
Fox’s latest proposal to preserve the editorial independence of Sky News, the U.K.’s fourth-most-watched news source, goes further than an earlier set of concessions made by the U.S. media and entertainment giant. The earlier offer was rejected by former U.K. Culture Secretary Karen Bradley.
Published by U.K. regulators Monday, Fox’s improved offer includes provisions that the editorial board of Sky News must be entirely comprised of independent members. The previous proposal would have allowed non-independent members on the board. Any appointment to the Sky News editorial board by Fox’s Nominating and Corporate Governance Committee would have to be approved by the U.K. Culture Minister or by U.K. regulators.
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