Culture secretary Matt Hancock has until June 13 to come to a decision on the proposed merger between 21st Century Fox Inc and Sky Plc.
The final report from the Competition and Markets Authority completes almost a year of regulatory scrutiny since Fox first made its £11.7 billion bid for the broadcaster. Sky’s board gave its own approval last December, since when Fox itself has become a takeover target by Disney, while Comcast has made its own counterbid for Sky and its broadcast operations in the UK, Germany and Italy.
“Now that I have received this report, I must come to my decision and publish the report within 30 working days (by 13 June). My decision will be on whether the merger operates or may be expected to operate against the public interest, taking into account the specified public interest considerations of media plurality and genuine commitment to broadcasting standards,” said Hancock in a statement.
Following initial findings by the CMA that the merger was not in the public interest, a number of remedies have been proposed, largely surrounding the future ownership and editorial control of Sky News.
All parties appear largely agreed that Sky News should have an independent editorial board and be funded at present levels for up to ten years.
