Feb 8, 2018

Fox still expects to win Sky takeover

The Murdoch-controlled 21st Century Fox has said it continues to expect UK approval of its Sky takeover, despite a provisional finding that the deal was not in the public interest. Last year, the firm struck a deal to sell assets, including Sky, to Disney. The Sky deal, in which would Fox would buy the 61% it does not own, pre-dates the plans for Disney and has been delayed amid opposition in the UK. In January, the UK Competition and Markets Authority found that if the deal went ahead as planned, it would give the Murdoch family too much control over news providers in the UK. Mr Murdoch said the firm continues to expect that deal to be approved by the end of June. The firm's cable networks, which include its flagship Fox News channel, drove the gains, which were stronger than expected. Fox chairman Lachlan Murdoch said Fox is focused on live sports as it plots a future as a smaller company.

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