Murdoch's Sky Bid Faces Delay as U.K. Considers Fresh Review. (But…)
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Rupert Murdoch faces drawn-out negotiations with U.K. regulators in his effort to take full control of Sky for 11.7 billion pounds ($15.2 billion) after the government said it intended to refer the bid back for additional review unless 21st Century Fox offers steeper concessions.
The U.K. is inclined to refer the offer to the Competition and Markets Authority for a deeper investigation, Culture Secretary Karen Bradley said Thursday. However, she left the door open for a resolution by July 14 that would avoid a CMA review, if Fox strengthens proposals it’s made to ensure editorial independence at Sky News.
“The transaction raises public-interest concerns as a result of the risk of increased influence by members of the Murdoch family trust over the U.K. news agenda and the political process, with its unique presence on radio, television, in print and online,” Bradley said in a statement to the House of Commons.
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