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Media tycoon secures takeover battle

Murdoch wins European support for Sky bid


Twenty-First Century Fox has secured unconditional EU antitrust approval for its £11.7 billion takeover of Sky.

Fox already owned 39% of Sky and major shareholder Rupert Murdoch and his family have long coveted full control.

A previous attempt ended in failure when his newspaper business became embroiled in the phone-hacking scandal. It led to the closure of the News of the World.

The deal could still face regulatory obstacles. UK Culture Secretary Karen Bradley has said she is “minded” to order an Ofcom investigation.

Media analyst Alex de Groote said competition in the media has been diluted in recent years, largely as social media has impacted on print as a primary source of news.

 

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