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TOPIC: Sky threatens to shut down Sky News to aid Fox takeover

Sky threatens to shut down Sky News to aid Fox takeover 08 Nov 2017 14:28 #4827

  • Paul-UB40
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Nov 8th 2017

Sky has threatened to shut down Sky News if the news channel proves to be an obstacle in Rupert Murdoch's 21st Century Fox bid.
Regulators are investigating the deal amid concerns that Mr Murdoch's media empire could become too powerful.
Sky told the Competition and Markets Authority (CMA) that the regulator should not assume "the continued provision" of Sky News.
BBC media editor Amol Rajan said it was a "credible threat".
Fox owns 39% of Sky but wants full control of the satellite broadcaster.
In a submission made to the CMA last month, but published by the regulator on Tuesday, Sky said it "would likely be prompted to review" its position if "the continued provision of Sky News in its current form unduly impeded merger and/or other corporate opportunities available in relation to Sky's broader business".
This would particularly be the case if shareholders objected to the merger not happening, Sky said.
Closing Sky News would only be an option of last resort, and the broadcaster would try to find a buyer for the media company before that eventuality, the BBC understands

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