Culture Secretary ‘minded’ to refer Sky takeover to watchdog
CULTURE Secretary Karen Bradley has said she is “minded” to order an Ofcom investigation into the planned £11.7 billion takeover of broadcaster Sky over concerns about media plurality and broadcasting standards.
In a statement issued as the broadcasters formally notified the European Commission of the planned merger of the satellite TV giant and Rupert Murdochowned 21st Century Fox she stressed that she has not yet taken a final decision.
But she has written to both companies asking them to make written representations by March 8, with the aim of announcing a decision in the week commencing March 13.
“I have today written to the parties to inform them that I am ‘minded to’ issue a European Intervention Notice on the basis that I have concerns that there may be public interest considerations – as set out in the Enterprise Act 2002 – that are relevant to this proposed merger that warrant further investigation,” said Ms Bradley. “To be clear, I have not taken a final decision on intervention at this stage. In line with the guidance that applies to my quasi-judicial role I am inviting written representations from the parties and will aim to come to a final decision on whether to intervene in the merger within 10 working days of today’s notification.”
A decision to intervene would not block the deal, which envisages Fox paying £10.75 per share for the 61 per cent of Sky it does not already own – valuing the broadcaster at £18.5bn.
Instead, it would trigger an Ofcom assessment of public interest considerations as well as a Competition and Markets Authority report on jurisdiction.