Murdoch-owned 21st Century Fox said that it is confident its proposed £11.7B ($15B) merger with Sky will receive approval by the end of '17, according to Hannah Boland of the London TELEGRAPH. Fox, which is controlled by the Murdoch empire, already owns 39% of Sky, "but is hoping to gain full control." The deal "got the green light from the European Commission last month." However, both U.K. communications regulator Ofcom and the Competition & Markets Authority in the U.K. "still need to give their approval for the deal to progress." Fox Exec Chairs Rupert and Lachlan Murdoch said in a joint statement, "Our proposed combination with Sky, which was recently approved unconditionally by the European Commission, will advance another of our strategic priorities, driving innovation for customers." The comments came as Fox said that its revenue grew 5% year-on-year to $7.56B for the three months to the end of March, "partly thanks to increased advertising revenue" from its TV unit and its broadcast of Super Bowl LI (TELEGRAPH, 5/10).
