Jul 12, 2018

Murdoch's Fox cleared for Sky bid

The UK government has cleared a proposed deal for Rupert Murdoch's 21st Century Fox to buy Sky. Comcast's bid has already been cleared, and Culture Secretary Jeremy Wright said Fox can go ahead if it sells Sky News. Fox has been trying to get approval from UK regulators since 2016 to buy the 61% of Sky it does not already own. Fox has been trying to address the regulatory concerns through concessions, including agreeing to sell Sky News. On Wednesday the battle for Sky escalated, with Comcast offering a £26bn deal less than a day after 21st Century Fox increased its offer to £24.5bn..

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