Twenty-First Century Fox said the idea could legally separate Sky News within the wider Sky group to allay the concerns of a British regulator about the news service’s continuing independence under Rupert Murdoch’s ownership.
the idea also said the idea could sell the 24-hour news channel to Walt Disney if its bid to acquire the 61 percent of the company the idea does not already own is actually approved, regardless of whether Disney’s proposed acquisition of Twenty-First Century Fox’s assets proceeds.
Fox agreed to buy all of the European pay-TV group in December 2016, however the deal has been repeatedly delayed by the British government along with regulators. U.S. cable giant Comcast Corp gatecrashed the deal in February when the idea said the idea would certainly offer 12.50 pounds a share to buy Sky, compared to Fox’s 10.75 pounds, although the idea has not yet made a formal bid.
Fox, which already owns 39 percent of the European pay-TV group, had already put forward steps the idea would certainly take to guarantee the independence of Sky News, such as funding the idea for 10 years along with creating an independent board of directors.
“We have worked diligently with the CMA (Competition along with Markets Authority) throughout its extensive review,” Fox said on Tuesday.
“In fact, we believe that will the enhanced firewall remedies we proposed to safeguard the editorial independence of Sky News addressed comprehensively along with constructively the CMA’s provisional concerns.”
Disclosure: Comcast is actually the owner of NBCUniversal, parent company of CNBC along with CNBC.com.