MUMBAI: 21st Century Fox (21CF) has stated that it is going to continue to work constructively with the UK authorities as it goes ahead with the regulatory process for it to take over UK’s Sky. It made this announcement in a statement issued yesterday.  

Media observers have been saying that its pounds sterling 11.7 billion acquisition of the television, broadband and telecom services provider received a setback when British Secretary of State for Culture, Media and Sport Karen Bradley said she was inclined to encourage a second phase investigation by the UK’s Competition & Markets Authority (CMA) in respect of the media plurality ground.  However, 21CF and other interested parties have till 14 July to make their representations to her stated intentions before she finally decides to send it to the CMA.

21CF has said in the statement that "in the event that the Secretary of State makes a final decision to refer to the CMA, we would expect that the review would take at least 24 weeks. In such an event, the transaction is expected to close by 30 June, 2018.”

The Murdoch owned media conglomerate has further stated  that is “pleased that she (Bradley) is minded not to refer the proposed transaction to the CMA in respect of the commitment to broadcasting standards.”

However it explained that it was  disappointed that Bradley did not accept Ofcom’s recommendation stated in its report that “….the proposed undertakings offered by Fox to maintain the editorial independence of Sky News mitigate the media plurality concerns.”

It additionally added  that it “is pleased that Ofcom recognizes that Sky, under full 21CF ownership, would remain a fit and proper holder of broadcast licenses.”

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Fox' Sky buy: Representations to proposed merger invited by 14 July