Sky TV: 21st Century Fox awaits CMA ruling on Sky deal | City & Business | Finance



On Tuesday the Competition & Markets Authority will issue its final report on whether or not a takeover of Sky by Fox, which is controlled by media billionaire Rupert Murdoch, would be in the public interest. 

In January it provisionally ruled against the deal on the grounds that it would give Murdoch’s media empire excessive influence on British public life. 

To appease the CMA, Fox pledged to ring-fence Sky News, guarantee its editorial independence and provide it with funding for 15 years. 

It could also sell Sky News to Disney. 

Last week Fox suffered a major setback, when its £18.4billion (£10.75 a share) agreed deal was trumped by a rival £22billion offer from Comcast, the US cable TV operator. 

Sky is evaluating the new offer and waiting for a counter bid from Fox. 

Broker Liberium said bidding could see shares reach as high as £14 per share. 

Comcast intends to use Sky as a platform to expand internationally and is impressed with the firm’s technology, such as its Sky Q set-top box, which allows people to see programmes in ultra high definition whenever they want and on multiple devices.


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