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Britain wants regulator to look into Sky takeover by Murdoch's Fox

Britain wants regulator to look into Sky takeover by Murdoch's FoxThe UK’s Culture Secretary Karen Bradley said on Thursday that she had asked regulators to examine Rupert Murdoch’s 21st Century Fox’s planned takeover of European pay-TV group Sky, According to The Independent.

Earlier this month, Murdoch’s company formally notified the European Commission that it is bidding £11.9bn ($14.3 billion) for the European company.

At the time, Bradley said that she “concerns that there may be public interest considerations … that warrant further investigation” before the deal is recommended.

21st Century Fox struck a preliminary deal to snap up the 61 per cent of Sky that it does not already own in December last year.

Reuters reported at the time that the proposed offer of £10.75 a share in cash, which was backed by Sky’s independent directors, would strengthen the position of James Murdoch – who is both chief executive of Fox and chairman of Sky – in his 85-year-old father’s media empire.

The deal would come five years after the media tycoon’s last tilt at taking full control of the business through News Corporation.

The European competition authorities are now due to decide by 7 April whether to clear the takeover, demand concessions or start a five-month-long investigation into the deal.
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