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Tue Sep 12, 2017, 09:52 AM

Murdochs' Sky takeover bid set to be referred to competition watchdog

Source: The Guardian

Rupert Murdoch’s proposed takeover of Sky faces a six-month investigation by the Competition and Markets Authority after the culture secretary said concerns about the £11.7bn deal mean it needs further examination.

Karen Bradley told parliament she was minded to refer the deal to the competition regulator on the grounds of media plurality and on the grounds of commitment to broadcasting standards.

A referral on the grounds of media plurality had been expected but the likely prospect of the second referral was a surprise. Shares in Sky fell after the announcement.
Bradley said she was minded to refer on broadcasting standards due to concerns about compliance procedures at Fox News and corporative governance at the Murdochs companies.

Read more: https://www.theguardian.com/business/2017/sep/12/murdochs-sky-takeover-bid-referred-to-competition-watchdog

Ha-ha - the Fox swamp is really going to hurt Murdoch's profits.

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