Fox Disappointed With UK Government Delay Of Bid For Sky

By Rory GallivanFeaturesDow Jones Newswires

Twenty-First Century Fox Inc. (FOX) Thursday said it is disappointed the U.K. government has indicated it intends to subject its proposed purchase of European broadcaster Sky PLC (SKY.LN) to more regulatory scrutiny

The U.K. Secretary of State for Digital, Culture, Media and Sport, Karen Bradley, said earlier Thursday she is still "minded" to refer Fox's proposed $15 billion purchase of the 61% of Sky it doesn't already own to the U.K. competition body on plurality grounds.

Continue Reading Below

Fox said in a statement following her announcement that it is disappointed with her position and called on her to "complete the regulatory process expeditiously."

Media regulators are reviewing whether Fox's ownership of Sky would maintain "plurality"-or diversity of viewpoints-across the British media.

Rupert Murdoch and his family are major shareholders of Fox and News Corp. Fox and News Corp., which is the parent company of The Wall Street Journal, were part of the same company until it split in 2013.

-Write to Rory Gallivan at; Twitter: @RoryGallivan

(END) Dow Jones Newswires

July 20, 2017 08:41 ET (12:41 GMT)