January 23, 2018 / 7:15 AM / 4 months ago

Fox buying Sky not in public interest, offers remedies-UK regulator

LONDON, Jan 23 (Reuters) - Britain’s competition regulator said Rupert Murdoch buying all of Sky was not in the public interest because it would give the media mogul too much influence, but set out possible remedies that could allow the $15 billion deal to go ahead.

Murdoch’s Twenty-First Century Fox agreed to buy the 61 percent of Sky it did not already own in December 2016, triggering scrutiny from regulators which needed to judge if Murdoch had too much influence in Britain and would uphold broadcasting standards.

The Competition and Markets Authority said on Tuesday that remedies could include spinning off or divesting Sky News, or insulating Sky News from Fox’s influence. Disney is hoping to buy the asset from Murdoch at a later date.

Reporting by Paul Sandle; editing by Kate Holton

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