Murdoch's Fox seeks to win bid approval by extending Sky News guarantee [Reuters (UK)]
Fox Corporation - Class B (FOX)
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Source: Reuters
Murdoch's Fox seeks to win bid approval by extending Sky News guarantee | Reuters 2 Min Read LONDON (Reuters) - Rupert Murdoch’s Twenty-First Century Fox has strengthened its offer to protect the independence of Sky’s loss-making news channel to try to overcome regulatory concerns about Fox’s takeover of the parent company. Britain’s competition regulator has said Fox’s $15.7 billion deal to buy the 61 percent of Sky it does not already own should be blocked unless a way is found to reduce the influence Murdoch could wield through the ownership of Sky News. The objections marked the latest twist in Murdoch’s eight-year battle to take control of Europe’s leading pay-TV company, forcing Fox to come back with more and more concessions to try to allay concerns about the deal and win regulatory approval. The takeover is being closely watched in the United States where Murdoch has agreed to sell a string of assets to the Walt Disney company, including Sky, for $52.4 billion. Last week, Fox
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