Apr 21, 2017

Inquiry into Fox takeover of Sky delayed by UK election

UK regulators probing 21st Century Fox's £11.7bn bid to seize full control of Sky have been told to delay their decision until after the general election in June. Fox has been under fire in the US for its handling of a scandal involving Bill O'Reilly, the Fox News anchor, which resulted in his sacking on Wednesday. The regulator is also carrying out a simultaneous fit and proper person test on Fox and its senior directors, including Fox chief executive James Murdoch, who is also chairman of Sky. Fox declined to comment on Ms Bradley's decision to delay the UK inquiries but reissued an earlier statement, saying: "We now look forward to continuing to work with UK authorities and are confident that the proposed transaction will be approved following a thorough review process." Media analyst Claire Enders said that while the delay may frustrate shareholders in Sky who are eager for the transaction to go through quickly, it was of marginal significance to Fox itself.

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