skip to content

Bids, Mergers and Takeovers

Sky responds to announcement by the Secretary of State over Fox deal

29 June 2017 13:58

Sky said it has noted today's announcement by the Secretary of State for Culture, Media and Sport on the proposed acquisition of Sky by 21st Century Fox and the publication of Ofcom's report on the public interest considerations.

In a statement released this afternoon, Sky said:

"Having received Ofcom's report, the Secretary of State has indicated that she is minded to refer the Transaction to the Competition and Markets Authority ("CMA") for an in-depth review in relation to media plurality. The Secretary of State has indicated that she is not minded to refer in relation to commitment to broadcasting standards.

"The Secretary of State has also indicated that she is not presently minded to accept undertakings offered by 21st Century Fox, which provide for the continued editorial independence of and current levels of investment in Sky News.

"The Secretary of State has not reached a final decision. Before reaching a final decision, the Secretary of State will consider further representations. These are to be provided by 14 July, 2017.

"Sky will continue to engage with the process as the Secretary of State reaches her final decision.

"In the meantime, Sky welcomes today's announcement of Ofcom's decision that Sky would continue to be a fit and proper holder of its broadcast licences under full ownership of 21CF and will continue to operate its business as usual."

At 1:58pm: (LON:SKY) Sky Plc share price was +40.25p at 996.75p

Story provided by StockMarketWire.com

Related Company: SKY

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

-

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.