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| Murdoch's Fox increases Sky bid to £24.5bn in takeover battle | Murdoch's Fox increases Sky bid to £24.5bn in takeover battle |
| (about 1 hour later) | |
| Rupert Murdoch's 21st Century Fox has increased its offer for UK broadcaster Sky to £24.5bn, topping a previous offer from rival bidder Comcast. | Rupert Murdoch's 21st Century Fox has increased its offer for UK broadcaster Sky to £24.5bn, topping a previous offer from rival bidder Comcast. |
| US media giant Comcast made a £22bn offer for Sky in February, trumping a previous offer from Fox, which valued Sky at £18.5bn. | US media giant Comcast made a £22bn offer for Sky in February, trumping a previous offer from Fox, which valued Sky at £18.5bn. |
| Fox is expecting to get regulatory approval from Britain this week for the deal. | Fox is expecting to get regulatory approval from Britain this week for the deal. |
| Fox said Sky's independent committee had agreed the deal. | Fox said Sky's independent committee had agreed the deal. |
| What have been the stumbling blocks for Fox's Sky deal? | |
| Rupert Murdoch's Fox has been trying to get approval from UK regulators since 2016 to buy the 61% of Sky it does not own already. | Rupert Murdoch's Fox has been trying to get approval from UK regulators since 2016 to buy the 61% of Sky it does not own already. |
| The bid was held up by fears that it could give Mr Murdoch too much power over UK media. | |
| Fox has been trying to address those concerns through concessions, including selling Sky News to Disney once the deal is complete. | Fox has been trying to address those concerns through concessions, including selling Sky News to Disney once the deal is complete. |
| In June, the then Culture Secretary, Matt Hancock, said the Fox deal could go ahead if it sold Sky News, with certain provisos. | |
| At the time, Mr Hancock said he needed to be confident that the deal ensured the long-term financial viability of the channel. | |
| Sky News would need to continue to be a major UK-based news broadcaster. It would also need to be able to make editorial decisions independent from the control of the Murdochs. | |
| Mr Hancock said in June that there would be no public interest concerns with a Comcast takeover of Sky. | |
| Isn't there also a battle for Fox? | |
| Yes. Separately, Disney wants to buy Fox's entertainment assets, including its stake in Sky. | |
| In June, Disney increased its offer for 21st Century Fox to $71.3bn (£54bn) in cash and shares, up from an earlier $52bn offer. | |
| Comcast also wants to buy Fox. The US media conglomerate is locked in a battle with Disney over Fox's entertainment assets, which include movie studios, cable channels, National Geographic and a 30% stake in video website Hulu, as well as Indian network Star. | Comcast also wants to buy Fox. The US media conglomerate is locked in a battle with Disney over Fox's entertainment assets, which include movie studios, cable channels, National Geographic and a 30% stake in video website Hulu, as well as Indian network Star. |
| Fox would keep hold of some successful assets, including Fox Sports, Fox News and Fox Television Stations, and make them into a new company called "New Fox". |