United Kingdom probe into Fox-Sky deal to assess Murdoch influence

United Kingdom probe into Fox-Sky deal to assess Murdoch influence

The 21CF release added: Reference is made to the announcement made on 15 December 2016 by the 21st Century Fox Board and the Independent Committee of Sky that they had reached agreement on the terms of a recommended pre-conditional cash offer by 21st Century Fox for the fully diluted share capital of Sky which 21st Century Fox and its Affiliates do not already own.

Shareholders of Sky plc, the owner of Sky News, have voted to reappoint James Murdoch as chairman of Europe's largest pay-TV broadcaster.

A previous attempt by Fox to buy Sky was abandoned in the midst of the phone-hacking scandal in 2011.

Observers said that the result meant that slightly more than 50 percent of independent shareholders backed Murdoch, 44, this year, compared with last year when slightly more than 50 percent had not supported him.

In response White said that while the regulator has from some "extremely disturbing" behaviour at Fox News, for which 21st Century Fox is the parent company, it did not believe that Sky was deserving of losing its broadcasting licence following the proposed takeover.

Sky confirmed in its annual report last month that chief executive Jeremy Darroch's total annual pay packet more than trebled to £16.3m (€18.1m) previous year despite annual profits being hit by the cost of broadcasting live Premier League football.

The Competition and Markets Authority (CMA) said earlier this week that it would investigate issues of media plurality surrounding the deal.

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Gilbert's comment was a reference to allegations of sexual and racial harassment at Fox News.

The FTSE 100 giant reported like-for-like revenue up 5pc in the three months to September 30, at £3.3bn.

Mr Darroch said it was a strong start to the new financial year: "Against the backdrop of pressure on consumer spending and lower spend on United Kingdom television advertising, we were particularly pleased with our own EBITDA growth of 15% in our established business".

He said the first series of Sky's home-grown drama Riviera achieved 20 million downloads, while Game of Thrones had become the most watched series ever on Sky.

Chief executive Jeremy Darroch said the group's investment in production was "delivering", with customer viewing to Sky pay channels up 10% year-on-year.

He pointed out that in addition to Sky's existing markets - the UK, Ireland, Germany, Austria and Italy - the company had just launched consumer streaming services in Spain and Switzerland.

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