Tags: EU | Britain | Sky | The | Latest

The Latest: Fox Gets Lifeline in Its Takeover Offer for Sky

Tuesday, 05 June 2018 09:37 AM

LONDON (AP) — The Latest on the rival bids for British satellite broadcaster Sky (all times local):

2:20 p.m.

Britain's culture secretary says he will allow 21st Century Fox's 11.7 billion-pound ($16.4 billion) bid to buy the 61 percent of the U.K. satellite broadcaster Sky it doesn't already own, provided it divests itself of Sky News.

Matt Hancock's statement also cleared the way for Comcast's rival bid for Sky — setting the stage for a bidding war.

Rupert Murdoch's 21st Century Fox has stumbled in its efforts to take full control of Sky because of regulatory concerns over the extent of Murdoch's influence on British media. The Competition and Markets Authority provisionally blocked the deal in January, but Fox has offered remedies to address concerns.

Hancock also said he'd allow Comcast's 22 billion-pound ($30.7 billion) bid for Fox to proceed to the next stage.

1:25 p.m.

Britain's culture secretary is set to offer his verdict on 21st Century Fox's 11.7 billion-pound bid ($16.4 billion) to buy the 61 percent of the U.K. satellite broadcaster Sky it doesn't already own.  

Matt Hancock's statement on Tuesday will lay out whether the government will block or permit the deal subject to certain conditions.  

Rupert Murdoch's 21st Century Fox has stumbled in its efforts to take full control of Sky because of regulatory concerns over the extent of Murdoch's influence on British media. The Competition and Markets Authority provisionally blocked the deal in January, but Fox has offered remedies to address concerns.  

Hancock will also offer a view on whether he will allow Comcast's 22 billion-pound ($30.7 billion) bid for Fox to proceed to the next stage.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
GlobalTalk
The Latest on the rival bids for British satellite broadcaster Sky (all times local):2:20 p.m.Britain's culture secretary says he will allow 21st Century Fox's 11.7 billion-pound ($16.4 billion) bid to buy the 61 percent of the U.K. satellite broadcaster Sky it doesn't...
EU,Britain,Sky,The,Latest
271
2018-37-05
Tuesday, 05 June 2018 09:37 AM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved