Deals
Fox-Sky Deal Not in Public Interest, U.K. Regulator Says
- Antitrust regulator issues provisional findings on deal
- Shares rise as broadcasting standards issues aren’t a problem
U.K. Regulators Raise Flags About Fox-Sky Deal
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U.K. regulators dealt a setback to 21st Century Fox Inc.’s planned 11.7 billion-pound ($16.3 billion) takeover of Sky Plc, saying the deal would give Rupert Murdoch too much control over the country’s media.
Fox’s bid to buy the European pay-TV broadcaster wouldn’t be in the public interest, the Competition and Markets Authority said in provisional findings Tuesday in which it called for the companies to offer remedies. Sky shares jumped as much 3.7 percent, however, after the regulator dismissed concerns about the separate issue of broadcasting standards.