21st Century Fox says it is willing to commit to a Sky-branded news service for at least five years.
The Competition and Markets Authority says the media giant is also promising similar levels of investment as part of its planned takeover of Sky plc. An independent editorial board will also be put in place following concerns over media plurality.
Last month the CMA proposed for Sky News to become a separate PLC with an independent board of directors. It’s concerned the Rupert Murdoch company would have too much control over British media.
Earlier, the Sky board had threatened to shut the loss making news organisation altogether with chief executive Jeremy Darroch telling an investor call that Sky News was not as important to the broadcaster as it once was.
A three-week consultation period into the CMA’s findings ends on February 13, 2018.
