21st Century Fox Expecting Sky Takeover To Be Approved In '18
Approval of 21st Century Fox's proposed takeover of Sky is "likely to come" in the first half of '18, the company said on Wednesday in "a sign it is gearing up for wider review of the merger," according to the BBC. Fox had "hoped to close the deal" in '17 but it has been delayed by regulators. It "follows concerns a deal would give the family of businessman Rupert Murdoch too much control" over U.K. news. Sky and Fox are controlled by Murdoch, who also owns the London Times and the Sun newspapers. Fox is "seeking to buy" the 61% of Sky it does not own. Fox told investors on Wednesday that "setting aside money for the deal remains a priority, noting that the company has already received necessary approvals in Europe." 21st Century Fox CEO James Murdoch said, "We remain confident our transaction will be approved, but more likely in the first half of 2018 than before the end of this calendar year" (BBC, 8/10).