21st Century Fox’s £11 Billion Bid For Sky To Be Referred To CMA For Investigation

Bad news for Rupert Murdoch, who is facing another hurdle in his years long quest to take full ownership of Sky. Culture Secretary Karen Bradley has announced that she is “minded-to-refer” 21st Century Fox’s £11 billion bid to take full ownership of the satcaster to the CMA (Competition and Markets Authority). The CMA is now poised launch a six month investigation into the potential take over. The Secretary of State for Digital, Culture, Media and Sport is minded to make make the referral on two grounds: “media plurality” and “genuine commitment to broadcasting standards”. Fox’s stock price fell slightly following the announcement.

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