Variety – Fox’s Plan for Independent Sky News Failed to Convince Authorities, Tripping Up Takeover

However, Sky shares rose on the expectation that Fox would be able to get over this last regulatory hurdle.

June 29, 2017

‘In seeking official British approval of its Sky takeover bid, 21st Century Fox offered several concessions, but evidently not enough to convince the government that the deal wouldn’t concentrate too much power in the hands of the new combined entity. Experts also questioned the enforceability of Fox’s pledge to keep Sky News editorially independent.

A report from British media regulator Ofcom, published Thursday, revealed that Fox offered to establish an independent editorial board for Sky News with final say over which stories made it to air, as well as over political comment and opinion.’

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