'EU to green light Fox takeover of Sky'
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April 7, 2017

Rupert Murdoch's 21st Century Fox is poised to be granted EU approval to takeover long-term target Sky.

Fox has offered $14.5 billion for the 61 percent of the European broadcaster that it does not already own.

If the merger is approved it will create a pay TV giant that will span two continents.

Murdoch's offer was approved by Sky's independent directors but the deal had to be approved by the EU after studying whether it would breach competition rules.

Some critics of the deal including members of the UK parliament have expressed concerns over the concentration of media ownership, particularly how much power Murdoch can wield through his media empire and the merged company's commitment to broadcasting standards.

Fox's last bid to takeover Sky in 2011 was derailed by the News of the World phone hacking scandal, which led to the Murdoch tabloid being closed after it emerged that their reporters had accessed the voicemail of murdered 13-year-old Milly Dowler.

Murdoch was hauled before a UK parliamentary committee to answer questions about the scandal along with his son James and News International chief executive Rebekah Brooks.

Sky News

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