UK: Fox to hand over Sky hot potato to Disney if deal closes

21st Century Fox said Thursday, December 14, it will still try to complete its £11.7 billion (US$15.4 billion) takeover offer for Sky, a move that would hand the major European broadcaster over to Disney as it in turn buys most of Fox.

Sky is based in London but has strong news and pay-TV operations across Europe, and is particularly prized for its sports broadcasting operations, including the English Premier League soccer matches.

Fox, controlled by Rupert Murdoch’s family, has faced hurdles in trying to buy the 61% of Sky it doesn’t already own. But it said Thursday that it remains confident that Britain’s competition regulator and government will approve the Sky takeover by the expiration of the offer on June 30, 2018.
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Although Disney ownership of Sky is widely seen as more palatable to UK authorities, it will be interesting to see if this handoff doesn’t generate further scrutiny from competition watchdogs in the EU, where Disney’s ESPN is an established player.

Full Content: Hollywood Reporter

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