No mousing around as Disney offers to take Sky News

Rupert Murdoch hopes to win approval for Fox's Sky takeover

Additionally, we offered personal undertakings given by 21st Century Fox executive chairmen and its CEO not to influence or attempt to influence the editorial choices made by the head of Sky News.

Murdoch's plans have run into competition problems.

Walt Disney Co.is all set to acquire Sky PLC's news channel, this deal could help Fox consolidate its ownership of the European pay-TV operator. It pledged to "sustain the operating capital of Sky News and maintain its editorial independence".

Disney boss Bob Iger is unlikely to be interested in the small, unprofitable news channel on its own. It proposed itself that Sky News could be either spun off or divested.

Their view appeared vindicated when Comcast said it would pay 12.50 pounds a share to buy Sky, although it has not yet made a formal bid.

The suitors are after Sky for its unusually large breadth of services and reach.

The new meeting ground for video programming distributors!

The group, which has a broadband arm serving 29 million USA customers, owns NBC and Universal Pictures and wants to seize more than 50 per cent of Sky. The model is what AT&T Inc.is trying to build through its $85 billion pursuit of Time Warner Inc. The deal has faced a series of regulatory hurdles.

Britain's antitrust regulator said in January the deal could give Murdoch undue influence given his existing interests in the Sun and Times newspapers. News Corp also owns The Wall Street Journal. Fox sweetened the offer on Tuesday.




"We look forward to concluding this acquisition - finally - in a timely and expeditious manner", Fox Senior Vice President Gerson Zweifach said, adding the proposed solutions addressed all concerns about the transaction.

"They've now gone as far as to persuade Disney to buy a lossmaking business, because everyone knows Sky News doesn't make any money", he said.

A Sky statement added: "Sky believes that both of these remedy proposals comprehensively address any plurality concerns the CMA may have, and would guarantee the long-term future of Sky News and its ongoing editorial independence", it said.

Fox is continuing to work with United Kingdom regulators on finalizing the deal for Sky while also fending off a rival bid from Comcast.

The agency is mulling whether to recommend the Fox deal for Sky to Culture Secretary Matt Hancock for approval.

The Sky News proposal would take place regardless of whether that acquisition was successfully concluded, Fox said.

But the proposal faces another challenge as United States broadcaster Comcast is mounting its own £22.1 billion takeover approach for Sky.

Sky now trades higher than the Comcast proposal, indicating that investors are expecting a bidding war. Sky shares were up 2% at GBP13.25 in afternoon trading in London.

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