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| Rupert Murdoch’s Sky takeover bid to be examined by regulators, Culture Secretary Karen Bradley announces | Rupert Murdoch’s Sky takeover bid to be examined by regulators, Culture Secretary Karen Bradley announces |
| (35 minutes later) | |
| The UK’s Culture Secretary Karen Bradley said on Thursday that she had asked regulators to examine Rupert Murdoch’s 21st Century Fox’s planned takeover of Sky. | The UK’s Culture Secretary Karen Bradley said on Thursday that she had asked regulators to examine Rupert Murdoch’s 21st Century Fox’s planned takeover of Sky. |
| Speaking in the House of Commons, Ms Bradley said that she had decided that the potential deal would be subject to a "thorough regulatory review" by both Ofcom and the Competition and Markets Authority (CMA) and as a result of concerns that she has around media plurality and broadcasting standards. | |
| She said that regulators would determine whether Fox was a "fit and proper" parent for Sky. | |
| Earlier this month, Mr Murdoch’s company formally notified the European Commission that it is bidding nearly £12bn for the European pay-TV company. | |
| At the time, Mr Bradley said that she “concerns that there may be public interest considerations … that warrant further investigation” before the deal is recommended. | At the time, Mr Bradley said that she “concerns that there may be public interest considerations … that warrant further investigation” before the deal is recommended. |
| 21st Century Fox struck a preliminary deal to snap up the 61 per cent of Sky that it does not already own in December last year. | 21st Century Fox struck a preliminary deal to snap up the 61 per cent of Sky that it does not already own in December last year. |
| Reuters reported at the time that the proposed offer of £10.75 a share in cash, which was backed by Sky’s independent directors, would strengthen the position of James Murdoch – who is both chief executive of Fox and chairman of Sky – in his 85-year-old father’s media empire. | |
| The deal would come five years after the media tycoon’s last tilt at taking full control of the business through News Corporation. | The deal would come five years after the media tycoon’s last tilt at taking full control of the business through News Corporation. |
| The European competition authorities are still due to decide by 7 April whether to clear the takeover, demand concessions or start a five-month-long investigation into the deal. | |