Murdoch's Sky bid faces in-depth competition probe

Rupert Murdoch's £11.7bn (€13bn) bid to take full control of Sky through 21st Century Fox will be referred to the UK competition watchdog for an in-depth probe, British Culture Secretary Karen Bradley has confirmed.

Murdoch's Sky bid faces in-depth competition probe

Rupert Murdoch's £11.7bn (€13bn) bid to take full control of Sky through 21st Century Fox will be referred to the UK competition watchdog for an in-depth probe, British Culture Secretary Karen Bradley has confirmed.

Earlier this week, Ms Bradley told British MPs she was likely to refer the deal to the Competition and Markets Authority (CMA) for a full blown investigation centred on broadcasting standards and media plurality grounds.

She said that after receiving letters from both Fox and Sky voicing their disagreement with the decision, they would not be making substantive representations in relation to it.

Ms Bradley said: "As a result, I can confirm my final decision is to refer the merger to the CMA for a Phase 2 investigation on media plurality and genuine commitment to broadcasting standards grounds.

"I will issue and publish my formal referral decision in the coming days. I will also publish the substantive representations I have received during this process shortly."

The CMA has around six months to investigate the merger and provide Ms Bradley with advice, after which she must then come to a final decision on whether or not the merger can proceed, including any conditions that will apply in order to do so.

Mr Murdoch's 21st Century Fox is attempting to acquire the 61% of Sky it does not already own.

The CMA faces the task of delving into claims of misconduct at Fox, which have ranged from alleged racial and sexual harassment to making up quotes.

Mr Murdoch's latest approach comes after his last attempt at taking over the business through News Corporation in 2011.

The tilt faced opposition from media industry rivals and politicians before it was scuppered by acute pressure on the company, brought about by phone-hacking claims involving News International.

For its part, Sky said that it notes the swift decision to now refer this to the CMA and will "continue to engage constructively in this process"

more courts articles

Man (25) in court charged with murdering his father and attempted murder of mother Man (25) in court charged with murdering his father and attempted murder of mother
Man appears in court charged with false imprisonment of woman in van Man appears in court charged with false imprisonment of woman in van
Man in court over alleged false imprisonment of woman Man in court over alleged false imprisonment of woman

More in this section

FILE PHOTO The Competition and Consumer Protection Commission has cleared the purchase of Goodbody Stockbrokers by AIB END Goodbody Stockbrokers fined over €1.2m by Central Bank over rules breaches
Nottingham City Centre Stock Irish staff at the Body Shop wait for wages as retailer shuts stores in the Republic
Ryanair comments on Norwegian Ryanair boss O'Leary's spat with Transport Minister over Dublin Airport escalates
IE logo
Devices


UNLIMITED ACCESS TO THE IRISH EXAMINER FOR TEAMS AND ORGANISATIONS
FIND OUT MORE

The Business Hub
Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Sign up
ie logo
Puzzles Logo

Play digital puzzles like crosswords, sudoku and a variety of word games including the popular Word Wheel

Lunchtime News
Newsletter

Keep up with the stories of the day with our lunchtime news wrap.

Sign up
Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited