Sky buy: Fox disappointed at US secy's statement, hopes for closure by 30 June

MUMBAI: 21st Century Fox (21CF) notes the statement by the Secretary of State for Digital, Culture, Media and Sport that she intends to refer the combination of 21st Century Fox and Sky plc to the Competition and Markets Authority (CMA) on the grounds of both media plurality and genuine commitment to broadcasting standards.

21CF had written to the Secretary of State expressing disappointment that she had changed her mind and decided not to follow the advice of the independent and expert regulator Ofcom regarding broadcasting standards, but informing her that it did not intend to make further representations and encouraged her to make a prompt referral.

"We now, therefore, look forward to engaging constructively with the CMA, as independent authority, and hope that the findings of this process will be respected by the Secretary of State," 21CF stated.

"Subject to any further delays in the decision-making process, we anticipate that the transaction will close by 30 June, 2018," 21CF added.


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