Friday, June 30, 2017

UK withholds approval for Murdoch's $15bn Sky deal

Jun 30 2017 : The Times of India (Chennai)
UK withholds approval for Murdoch's $15bn Sky deal

Britain intends to refer Rupert Murdoch's takeover of Sky to a full investigation because critics say the deal would give the media mogul too much power in UK media. Murdoch's media group is trying to buy the 61% of Sky it doesn't already own, giving Twenty-First Century Fox easy access to Sky's 22 million customers in the UK, Ireland, Austria, Germany and Italy.“I am minded to refer to a Phase 2 investigation on the grounds of media plurality ,“ culture secretary Karen Bradley said. “The reasoning and evidence on which Ofcom's recommendation is based are persuasive.“
“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 TV, radio, in newspapers and online,“ Bradley said.
Ofcom, the communications regulator, last week submitted a report to Bradley on the deal's implications for media competition and Sky's compliance with broadcasting standards. Critics argue the takeover would give Murdoch too much influence over British media as his company already owns two of the country's biggest newspapers, The Sun and The Times.

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