UK Takeover panel sets Disney/Sky conditions

Disney must bid for Sky even if Murdoch offer fails, watchdog rules

But it said that the ruling would not stand if Fox's deal for Sky is approved and goes through before Disney acquires Fox assets, or if rival Sky bidder Comcast acquires a stake of more than 50pc in Sky.

Fox now owns a 39% stake in Sky and is trying to buy the remaining stake 61%.

Comcast Corporation, which announced on February 27th that it was considering making an offer for Sky, or any other third party, has acquired more than 50 per cent of the ordinary shares of Sky.

Disney will be required to make a mandatory offer for all of Sky after completing its proposed acquisition of Twenty-First Century Fox, according to the UK Panel on Takeovers and Mergers.

Earlier this month, 21st Century Fox said the Walt Disney Company is interested in buying United Kingdom -based Sky News regardless of whether its $52.4 billion deal for certain Fox assets goes through.




Shares in Sky on Thursday were down 0.2% in London at 1,307.00 pence, or GBP13.07, each.

The panel's supervisory role is distinct from the investigation into the Fox-Sky deal being carried out by the Competition and Markets Authority (CMA), which looks at wider issues. In January, the United Kingdom competition watchdog ruled that the deal would be against public interest on media plurality grounds and would give too much control to the Murdoch family, which controls Fox. "Further advice to Sky Shareholders will be announced in due course", it stated. However, Fox has proposed remedies to allay the regulators' concerns.

Fox faces a number of regulatory hurdles after the UK's competition watchdog found the £11.7bn deal was "not in the public interest". It also said that Disney was interested in acquiring Sky News.

"21CF remains committed to its recommended cash offer for Sky announced on 15th December 2016, which is supported by revised remedies recently offered to the Competition and Markets Authority (CMA) with whom 21CF has been co-operating in order to bring the United Kingdom regulatory process to a swift and satisfactory conclusion", Fox said in a statement.

Disney will be forced to acquire all of Sky if 21st Century Fox's takeover of the United Kingdom pay-TV broadcaster is not complete prior to the Mouse House's takeover of the rival Hollywood studio.

Related news:

Hot News

isis-killer-beheading-video-story-top Putin calls on Netanyahu not to take any 'destabilising action' on Syria
Apr 13, 2018 - 01:31
On Wednesday, taking to Twitter, Trump warned Russian Federation that USA missiles would soon strike Syria . Prime Minister Binyamin Netanyahu spoke to Russian President Vladimir Putin over the phone Wednesday.

isis-killer-beheading-video-story-top Chris Sale credits Alex Cora's demeanor for Boston's hot start
Apr 12, 2018 - 07:30
The Braves pitched around Harper nearly completely in the first game of this series on Monday night and still came up short. In his first two at-bats, Sale threw seven pitches, all fastballs, all for strikes. "That's a good sign", Cora said.

isis-killer-beheading-video-story-top Senate Democrats urge resolution calling for removal of EPA chief Pruitt
Apr 12, 2018 - 07:29
The letter quoted from the internal EPA documents but the full documents were not made public. Sheldon Whitehouse, wrote Barrasso on Tuesday asking for into Pruitt's security spending.

isis-killer-beheading-video-story-top Khloe Kardashian Allegedly Proceeded '' More than Tristan Thompson Adulterous rumors
Apr 12, 2018 - 07:28
Thompson is seen in another TMZ video, meanwhile, entering a Manhattan hotel while accompanied by a woman that same night. The Cavs player was filmed making out with 28-year-old Lani Blair on Saturday and the video went viral just yesterday.

isis-killer-beheading-video-story-top Siria: la Russian Federation è pronta alla guerra
Apr 12, 2018 - 07:26
L'allarme è stato emesso "a causa del possibile lancio di raid aerei con missili aria-terra e/o cruise entro le prossime 72 ore ". Nel frattempo le minacce degli Stati Uniti e dei loro alleati contro la Siria si stanno intensificando.

Messi's Barca make shock Champions League exit
Apr 12, 2018 - 07:19
Five-time European champions Barcelona were also beaten 3-0 at the quarter-final stage last season at Juventus. Holding back tears, he told it TV3 it may well be his last game in Europe's premier competition.

isis-killer-beheading-video-story-top Virginia woman accused of beheading boyfriend, shouting 'let me get my heads'
Apr 12, 2018 - 07:19
On Monday, a judge ordered a mental evaluation for a West Virginia woman accused of beheading her boyfriend. Deputies found another body part of the victim's near the home where Mills was discovered, Detective L.L.

isis-killer-beheading-video-story-top Ahead of polls, Australian PM Malcolm Turnbull faces leadership pressure
Apr 11, 2018 - 12:45
During an appearance on Q&A, multicultural affairs minister Alan Tudge defended Turnbull, saying that "I don't think it was a particularly useful contribution from Barnaby this afternoon".

isis-killer-beheading-video-story-top Man arrested in connection with Allison Feldman's 2015 murder
Apr 11, 2018 - 12:43
Emergency workers and police responded to a call from employees of the facility, said Tarboro Police Chief Jesse Webb. A felony charge of possession of a fire arm and a charge for carrying a concealed weapon are being requested.

isis-killer-beheading-video-story-top Trump to skip South America summit to focus on Syria
Apr 11, 2018 - 12:43
When speaking on Monday, Trump stated that "nothing is off the table", in dealing with Syria following the chemical attack . Last year, Washington bombed a Syrian government air base after a chemical weapons attack. "It was an atrocious attack".

isis-killer-beheading-video-story-top Dow sinks 500 points upon open as US, China issue new tariffs
Apr 11, 2018 - 12:43
He noted that the US hasn't entered a full-blown trade war since 1930, and trade relationships were much different back then. Share prices on Wall Street tumbled on Friday, with the Dow Jones Industrial Average falling more than 500 points.

isis-killer-beheading-video-story-top Valentino Rossi: Honda boss defends Marc Marquez after Argentina crash
Apr 11, 2018 - 12:41
Rossi finished 19th with Marquez, who was handed a 30 second penalty for the collision, also out of the points in 18th position. This incident meant that he again came under race direction's scrutiny and was asked to drop back by one place.

isis-killer-beheading-video-story-top Trump doubles down on defence of embattled EPA chief
Apr 10, 2018 - 20:04
Then during a trip to Italy in June, Pruitt was accompanied by nine aides and a security detail that cost more than $120,000. When asked if Pruitt should keep his job, Kennedy wouldn't give him an up or down vote.

isis-killer-beheading-video-story-top Karius: Liverpool should repeat Man City game plan
Apr 10, 2018 - 20:02
But maybe we will improve for the future regarding this, and realize that sometimes it is not enough what you've done to win. The Sunday Supplement panel assess what went wrong for Manchester City following their 3-2 defeat to Manchester United .

isis-killer-beheading-video-story-top Masters updates: Umbrellas out as Woods begins his 3rd round
Apr 10, 2018 - 20:02
Reed countered by saying McIlroy has pressure trying to complete the career grand slam. "You can put it either way", he said. Tiger Woods and Phil Mickelson have begun their third rounds at the Masters and the umbrellas are out at Augusta National.