British government sets up Comcast-Disney showdown over Sky
The British government has made room for a standoff between Comcast and Disney, giving a contingent OK to's (FOX, FOXA) offer for whatever is left of Sky and additionally an endorsement for match offering from Comcast.
Fox would need to strip Sky News in a worthy way (say, to Disney). Something else, its arrangement for the staying 61% of Sky can't continue, British Culture Secretary Matt Hancock says.
Comcast's wealthier offer to Sky investors can push ahead too. In an intricate circumstance, and seeking after Sky, Comcast wants to make a counteroffer for Fox's media resources against a concurred bargain amongst Fox and Disney.
After months of scrutiny of Fox’s bid by media regulator Ofcom and the antitrust Competition and Markets Authority (CMA), British culture secretary Matt Hancock told Parliament that, if Fox agreed to divest Sky News in an acceptable manner, its $15-billion offer for the chunk of Sky it doesn’t already own could proceed. Otherwise, Hancock said he would block the deal, adding that he wanted to see a final agreement soon.
“I agree with the CMA that divesting Sky News to Disney, as proposed by Fox, or to an alternative suitable buyer, with an agreement to ensure it is funded for at least 10 years, is likely to be the most proportionate and effective remedy for the public interest concerns that have been identified,” Hancock said. . vbvcv vb