UK culture secretary to offer verdict on Fox bid for Sky

UK culture secretary to offer verdict on Fox bid for Sky
UK culture secretary to offer verdict on Fox bid for Sky

Britain's culture secretary is set to offer his verdict on 21st Century Fox's 11.7 billion-pound bid ($16.4 billion) to buy the 61 percent of the U.K. satellite broadcaster Sky it doesn't already own.

Matt Hancock's statement on Tuesday will lay out whether the government will block or permit the deal subject to certain conditions.

Rupert Murdoch's 21st Century Fox has stumbled in its efforts to take full control of Sky because of regulatory concerns over the extent of Murdoch's influence on British media. The Competition and Markets Authority provisionally blocked the deal in January, but Fox has offered remedies to address concerns.

Hancock will also offer a view on whether he will allow Comcast's 22 billion-pound ($30.7 billion) bid for Fox to proceed to the next stage.

This article was written by cool news network.

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