21st Century Fox takeover of Sky referred to competition watchdog

13 September, 2017, 00:44 | Author: Franklin Nunez
  • 21st Century Fox takeover of Sky referred to competition watchdog

The publication of letters between Karen Bradley and the media regulator show the culture secretary was determined to ask their competition counterpart to look into the Murdochs' commitment to broadcasting standards as part of its investigation into 21st Century Fox's £11.7bn bid to take over Sky.

Sky shares fell 1.7 percent on the news, to 936 pence.

Murdoch's 21st Century Fox agreed to take full control of Sky in December.

21st Century Fox announced in August that its controversial news channel would no longer be broadcast in the United Kingdom after failing to attract an audience.

Speaking to the House of Commons Tuesday, Bradley said that "that none of the representations received have persuaded me to change my position".

A Sky spokesperson said: "We are disappointed by this further delay and that the Secretary of State is now minded to refer the proposed acquisition to the CMA in relation to broadcasting standards despite Ofcom, as the independent broadcast regulator, maintaining its advice that there are not sufficient concerns to justify such a reference".

ULM ranked for second year in 2018 best colleges
For smaller regional institutions like Misericordia University, name recognition plays a negative factor in the rankings. Luzerne County oldest college and newest university is in a six-way tie for 41 place with 63 overall points.

Sky shares dropped by roughly 2% in London.

In March this year Mr Murdoch's company formally notified the European Commission that it was bidding almost £12bn for the European pay-TV company. Britain is under pressure to reassure investors of the nation's future path amid stalling Brexit talks with the EU.

In July, Bradley said she was still minded to refer the bid to the CMA on media plurality concerns, but not on the grounds of commitment to broadcasting standards.

Bradley's decision remains "minded to" because she must allow the parties to make representations on the proposed decision.

At issue for the CMA would be the scope of the Murdoch family's media influence in the United Kingdom and Fox's broadcasting record. Another Murdoch company, News Corporation, already owns British newspapers the Times, the Sunday Times and the Sun. Ofcom has said that the takeover could give the Murdoch family too much influence over Britain's media. "She added: "...entities which adopt controversial or partisan approaches to news and current affairs in other jurisdictions should, at the same time, have a genuine commitment to broadcasting standards here.

"The evidence before us of senior management efforts to rectify the situation, which included dismissal of those directly responsible, our judgment was that. there were not concerns which may justify a reference on grounds of the broadcast standards", Ofcom said.

Trump addresses USA state governors about Hurricane Erma
He added that his administration was monitoring the hurricane around the clock and would everything possible to save lives. Trump also issued a disaster declaration for Puerto Rico on Sunday and expanded federal funds available to the U.S.

Fox already has a 39 percent stake in Sky.

CMA reviews typically take around six months.

Political advocacy group Avaaz has challenged a review by Ofcom that found Sky would continue to be a "fit and proper" media outlet under Fox ownership.

But Bradley, who has remained United Kingdom culture secretary in May's new government, has been seen as being under pressure to not wave the deal through given that the topic of the Murdochs and their political power has been a hotly discussed topic in Britain.

"The direction of the political winds in the United Kingdom are less favourable every day with Labour rising", said Ms Alice Enders, head of research at Enders Analysis.

"These are matters the CMA may wish to consider in the event of a referral", Bradley said. Bradley had previously said only an investigation into the former question was necessary. "She's done her job today, and it's now for the CMA to do theirs".

Tottenham striker Vincent Janssen joins Fenerbahce on season loan
In his presser before Saturday's match away at Everton, Pochettino said that Janssen remains in his plans. As for Fenerbahce, their star striker Robin van Persie picked up an injury in the worldwide break.



Global cricket returns to Pakistan!
Both the teams are now fully focused on the T20Is scheduled for September 12, 13 and 15 and have started their preparations for the same.

Katia dissipates over Mexico but heavy rainfall continues
It's then predicted to turn northeast, traveling north of the coast of Puerto Rico on Sunday before turning back into the ocean. As of 7 a.m., Hurricane Katia was 210 miles east of Tampico, Mexico, and 195 miles northeast of Veracruz, Mexico.

China Tightens Cryptocurrency Crackdown
According to the reports , the ban will be limited to exchange-based trading and will not affect over-the-counter transactions. All three venues reported transactions yesterday, with bitcoin rising 6.3 per cent on OKCoin as of 11.56am local time.

Odell Beckham Jr. unlikely to play Sunday night
The New York Giants head down to Arlington to take on the Dallas Cowboys for the first Sunday Night Football game of the season. The diminutive receiver led the team in receptions a year ago with 75, making him an especially effective play in PPR leagues.

Lallana Tips Oxlade-Chamberlain to Excel After Joining Liverpool
He has yet to play this season, citing a back problem which coincided with him handing in a transfer request. You have to bring something on the table.

Cleveland Browns lose a close season opener against the Pittsburgh Steelers
Pittsburgh Steelers and Cleveland Browns will fight it out in a 2017 National Football League regular season matchup on Sunday. He finished 20 of 30 for 222 yards, but was guilty of holding onto the ball too long and put himself at risk with a few runs.

32 dead in massive quake in Mexico
The quake was felt in Mexico City which is more than 650 miles from the epicenter, with people fleeing apartment buildings. At least five people have been killed, including two children, in the Mexican state of Tabasco, KCTV5 News reported.

Devastation in the Caribbean as Irma Heads Toward Miami
Still living with the damages from Hurricane Sandy, New Yorkers know those preparing for Irma need help now. How was the approach to San Juan? "Amazing stuff", Rabinowitz tweeted as the plane departed.

Gap to close 200 stores in next three years
Over that time period, it will shift its focus to growing brands Old Navy and Athleta and open about 270 of those stores. The company announced this week that it will close 200 poor-performing Gap and Banana Republic stores.

OR rides explosive first half to 42-35 win over Nebraska
The Huskers offense, though, went three-and-out and punted to OR , which took possession with 10:10 remaining until halftime. New quarterback Tanner Lee threw for two scores and no interceptions in his Nebraska debut, but forced a few throws as well.