After a nearly 18-month-long effort, U.K. regulators have given Rupert Murdoch‘s 21st Century Fox the green light to acquire the 61 percent of pan-European media and telecommunications company Sky, that he didn’t already own.
In the midst of his bid to acquire Sky, Murdoch entered into a deal to sell much of 21st Century Fox, including Sky, to Disney. Comcast, which owns NBCU, is also considering a bid for 21st Century Fox.
Culture Secretary Matt Hancock said Fox’s proposal to divest Sky News to Disney — or any other suitable buyer — was likely to be the most proportionate and effective solution to tackle any outstanding public interest concerns.
Murdoch launched Sky News in 1989. He would go on to launch Fox News in the U.S. in 1996. While based in London, Sky News is distributed worldwide and has bureaus in 12 global cities, including New York and Washington, D.C. It also has a news studio in Los Angeles that is currently co-located with Fox News and Fox Business.