Disney, which also owns America’s ABC network has agreed to operate and maintain a Sky News-branded news service for 15 years rather than the previously proposed 10 years.
In February, Fox had already extended its commitments to Sky News from 10 to five years, underlining the importance of Sky News to the British authorities.
There is also a restriction on a sale by Disney without the consent of the Secretary of State for 15 years. Fox has extended its funding commitment from 10 to 15 years and there has been an increase in total funds available to the news channel to at least £100 million per year.
“In my view, these revised undertakings meet the criteria that I set out to the House on 5 June and will help to ensure that Sky News remains financially viable over the long term; is able to operate as a major UK-based news provider; and is able to take its editorial decisions independently, free from any potential outside influence,” said secretary of state for Digital, Culture, Media and Sport Matt Hancock.
Fox is bidding £11.7 billion to take control of Sky, but is itself the subject of interest from Disney.