The European Commission has given its unconditional approval to the £11.7 billion Twenty-First Century Fox takeover of Sky.
The Commission concluded the transaction would raise no competition concerns in Europe.
Under the proposals Sky, with interests in the UK, Ireland, Germany, Austria and Italy would combine with Twenty-First Century Fox, Inc (Fox), one of the six major Hollywood film studios (20th Century Fox), as well as a TV channel operator (Fox, National Geographic).
“The Commission found that the proposed transaction would lead to only a limited increase in Sky’s existing share of the markets for the acquisition of TV content as well as in the market for the wholesale supply of TV channels in the relevant Member States,” the Commission said in a statement.
It said concerns that Fox would be able to prevent or significantly limit access by Sky’s competitors to its films and other TV content, as well as to its TV channels were unfounded because the parties’ audience shares remain limited and pay-TV distributors would continue to have access to content from Fox’s competitors and alternative channels with comparable programming and audiences in the relevant Member States.
Existing regulators in the UK, Germany and Austria would prevent Sky from shutting out its rivals.
Media regulator Ofcom is currently looking at any impact on plurality and broadcasting standards. It is due to report by May 16, 2017.
