Britain says Fox bid for Sky risks giving Murdoch too much power

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June 29, 2017
Text: Britain says Fox bid for Sky gives Murdoch too much power over news
June 29, 2017

Britain says Fox bid for Sky risks giving Murdoch too much power

The Sky News logo is seen on the outside of offices and studios in west London, Britain June 29, 2017. REUTERS/Toby Melville

Reuters

Britain intends to subject Rupert Murdoch’s takeover of European pay-TV group Sky (SKYB.L) to a lengthy in-depth investigation after finding the $14.8 billion deal risks giving the media mogul too much power over the news agenda.

Media Secretary Karen Bradley said she was persuaded that Twenty-First Century Fox’s (FOXA.O) bid could give the Murdoch family too much influence over the media, after regulator Ofcom assessed the impact of the deal.

“The proposed entity would have the third largest total reach of any news provider – lower only than the BBC and ITN – and would, uniquely, span news coverage on television, radio, in newspapers and online,” Bradley said.

Murdoch, 86, and his family have long coveted full control of Sky, despite the damaging failure of a previous attempt in 2011 when their British newspaper business became embroiled in a phone-hacking scandal which forced them to abandon that bid.

A public inquiry into the affair revealed deep ties between Murdoch and the political establishment, making the renewed bid potentially toxic for Prime Minister Theresa May’s government which is fighting for survival after losing its majority.

Bradley had asked regulators to examine whether Fox would have too much control of the media, and whether it would be committed to upholding broadcasting standards if it was allowed to buy the satellite company which broadcasts in Britain, Ireland, Germany, Austria and Italy.

Fox said it was disappointed by the government’s rejection of its plans to maintain editorial independence of Sky News, and said a full investigation could push the…Read More

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Lakeem Khodra
Lakeem Khodra
News Writer/Contributor at Tyranny News @lakeemk

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