Home news Regulators deliver reports on Sky takeover

Regulators deliver reports on Sky takeover

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Culture Secretary Karen Bradley has received reports from regulators on the proposed takeover of Sky by 21st Century Fox and will tell MPs how she is “minded to” respond by 29 June.

Fox, which already has a 39% stake in the company – which owns Sky News – has agreed an £11.7bn deal to take full control of it.
The deal was referred to broadcast regulator Ofcom and the Competition and Markets Authority (CMA), who had been due to report back to Ms Bradley in May – but had the deadline extended due to the General Election.
Ms Bradley also said Ofcom had provided her with a separate “fit and proper assessment” of the deal.
She said: “I will consider these reports in detail before coming to an initial view on whether or not I am minded to refer the merger.”

Ms Bradley said she aimed to make her initial “minded to” statement, publish the main “public interest” CMA and Ofcom reports and return to Parliament to deliver a statement by 29 June.
The Secretary of State has to decide whether or not to refer the deal for a full-blown “phase 2” investigation by the CMA.
She said there would be a chance for representations to be made before a final decision.
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Source: SKY News Feed