• 12 September 2017
  • From the section Business

Image copyright
Reuters

The Culture Secretary has said she will refer 21st Century Fox’s bid to buy Sky to competition regulators.

Karen Bradley said the £11.7bn deal would face a six-month investigation due to concerns over both media plurality and broadcasting standards.

Fox owns 39% of Sky but wants to assume total control of the broadcaster.

However, there are concerns this would give Rupert Murdcoch’s family, who controls Sky, too much sway over Britain’s broadcasting landscape.

Ms Bradley’s decision on whether to refer the deal to the Competition and Markets Authority had been delayed several times, as she listened to further arguments about the case.

However, in a statement to Parliament on Tuesday she said that none of the representations she received allayed her concerns about the deal.

“I have the power to make a reference if I believe there is a risk – which is not purely fanciful – that the merger might operate against the specified public interests,” she said.

Read More At Article Source | Article Attribution