26-September-2017
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Fox worries prompt UK to take long look at Murdoch's Sky bid
13-Sep-2017

Rupert Murdoch’s planned $15 billion takeover of European broadcaster Sky (SKYB.L) was thrown into doubt on Tuesday when Britain toughened its stance on the deal over concerns about standards at his U.S. Fox News network.Media Secretary Karen Bradley had already wanted regulators to scrutinize the increased influence Murdoch would gain from fully owning Sky, but in an unexpected twist she said they should also examine whether he had a genuine commitment to broadcasting standards.The announcement sent London-listed shares in Sky down 5 percent, before they recovered to trade at 937 pence, well below the 10.75 pounds per share Twenty-First Century Fox (FOXA.O) has agreed to pay for the 69 percent of Sky it does not already own.“I consider it important that entities which adopt controversial or partisan approaches to news and current affairs in other jurisdictions should, at the same time, have a genuine commitment to broadcasting standards here,” Bradley told parliament.She said the Competition and Markets Authority (CMA) should also look into corporate governance at the right-leaning Fox.The news network has been rocked by a series of sexual harassment and discrimination lawsuits, leading to high profile resignations including former chief executive Roger Ailes and star anchor Bill O‘Reilly.

News Source:- http://www.reuters.com/article/us-sky-m-a-fox/fox-worries-prompt-uk-to-take-long-look-at-murdochs-sky-bid-idUSKCN1BN1K9