Home / Articles / Sky/Fox takeover deal likely to face competition probe

Sky/Fox takeover deal likely to face competition probe

The Culture Secretary said she is “minded to” refer Rupert Murdoch’s 21st Century Fox takeover of Sky to the competition watchdog.Karen Bradley’s decision is a blow to the media mogul’s hopes of having the £11.7bn deal waved through without further scrutiny.Mr Murdoch already owns 39% of the satellite broadcaster.An earlier attempt to take over Sky was abandoned in the wake of the phone hacking scandal. Ms Bradley told the House of Commons that the merger would increase the Murdoch family’s ability to influence the UK’s news agenda and political process.As a result there were “clear grounds” to refer the deal to the Competition and Markets Authority.The culture secretary said she was “minded to” do so, using the legal phrase required by legislation. The parties involved can make representations until Friday 14 July, when Ms Bradley will make a further decision.
Source: BBC News

About Business Ideas UK

My name is Joel Bissitt. I have been an entrepreneur for 24 years and have run many small businesses across various sectors. For the last 10 years I have worked mainly within online media, franchising and small business start-ups. I am an author of various websites including Franchise UK https://www.franchise-uk.co.uk

Check Also

HMV-owner Hilco nears deal for ailing Homebase

The investor which rescued HMV five years ago is close to striking a deal …

Free Franchise Guide

Free Franchise Guide

 
Interested in buying a franchise? The our FREE Franchise Guide is a must! The guide contains lots of information to help you decide if franchising is right for you.