This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-39292653

The article has changed 5 times. There is an RSS feed of changes available.

Version 2 Version 3
Fox takeover bid for Sky to be reviewed Fox takeover bid for Sky to be reviewed
(35 minutes later)
Culture Secretary Karen Bradley has asked regulators to examine Rupert Murdoch's 21st Century Fox's takeover bid for Sky.Culture Secretary Karen Bradley has asked regulators to examine Rupert Murdoch's 21st Century Fox's takeover bid for Sky.
In a statement to parliament, she told MPs that media regulator Ofcom and competition regulator, the CMA, would be asked to investigate the deal.In a statement to parliament, she told MPs that media regulator Ofcom and competition regulator, the CMA, would be asked to investigate the deal.
21st Century Fox is offering £11.7bn for the 61% stake in Sky it does not already own.21st Century Fox is offering £11.7bn for the 61% stake in Sky it does not already own.
The company said it was "confident" the takeover would be approved.The company said it was "confident" the takeover would be approved.
Critics of the merger fear it will mean Rupert Murdoch has too much control of the media.
'No vendetta'
Ms Bradley had previously said that she was "minded" to call for an investigation.Ms Bradley had previously said that she was "minded" to call for an investigation.
Since then, she said she had listened to the cases from interested parties, but that they had not sufficiently dismissed her concerns. The two main questions surround whether the deal leaves sufficient "plurality of persons with control of the media enterprises serving audiences in the UK" and whether they had a "genuine commitment to attaining broadcasting standards objectives".Since then, she said she had listened to the cases from interested parties, but that they had not sufficiently dismissed her concerns. The two main questions surround whether the deal leaves sufficient "plurality of persons with control of the media enterprises serving audiences in the UK" and whether they had a "genuine commitment to attaining broadcasting standards objectives".
"While the representations from 21st Century Fox highlighted areas where it contested the position taken in my minded-to letter, none of the representations have led me to dismiss the concerns I have regarding the two public interest grounds I previously specified," she said."While the representations from 21st Century Fox highlighted areas where it contested the position taken in my minded-to letter, none of the representations have led me to dismiss the concerns I have regarding the two public interest grounds I previously specified," she said.
"I am of the view that it remains both important, given the issues raised, and wholly appropriate for me to seek comprehensive advice from Ofcom on these public interest considerations and from the Competition and Markets Authority (CMA) on jurisdiction issues.""I am of the view that it remains both important, given the issues raised, and wholly appropriate for me to seek comprehensive advice from Ofcom on these public interest considerations and from the Competition and Markets Authority (CMA) on jurisdiction issues."
Amol Rajan: Is Fox and Sky deal different this time?Amol Rajan: Is Fox and Sky deal different this time?
Labour MP David Winnick was among those to object to the deal. He said there was no "vendetta" against Mr Murdoch but that "it would be simply unacceptable that the amount of media ownership he already controls should be increased."
Part of Ofcom's investigation will include whether Sky's potential new owners are "fit and proper". Rupert Murdoch and Lachlan Murdoch are both joint chairmen of 21st Century Fox and News Corp while James Murdoch is chief executive of Fox.Part of Ofcom's investigation will include whether Sky's potential new owners are "fit and proper". Rupert Murdoch and Lachlan Murdoch are both joint chairmen of 21st Century Fox and News Corp while James Murdoch is chief executive of Fox.
'Media changed dramatically'
The CMA will provide advice on whether European regulators need to examine the deal.The CMA will provide advice on whether European regulators need to examine the deal.
The two bodies have until 16 May to prepare their reports.The two bodies have until 16 May to prepare their reports.
Rupert Murdoch has previously bid to take full control of Sky. In 2011 News Corp, which owns The Times and The Sun, made an offer but it was abandoned in the wake of the phone hacking scandal.Rupert Murdoch has previously bid to take full control of Sky. In 2011 News Corp, which owns The Times and The Sun, made an offer but it was abandoned in the wake of the phone hacking scandal.
In 2013, Rupert Murdoch split the company into two. 21st Century Fox contained the TV and entertainment operations, while News Corp kept the newspaper and publishing businesses.In 2013, Rupert Murdoch split the company into two. 21st Century Fox contained the TV and entertainment operations, while News Corp kept the newspaper and publishing businesses.
The latest bid is from 21st Century Fox, which said it was looking forward to working with the UK authorities on its review and that it was "confident" the deal would be approved.The latest bid is from 21st Century Fox, which said it was looking forward to working with the UK authorities on its review and that it was "confident" the deal would be approved.
"The media market has changed dramatically in recent years, as has our business. We believe our proposed £11.7bn investment will benefit the UK's creative industries," it said."The media market has changed dramatically in recent years, as has our business. We believe our proposed £11.7bn investment will benefit the UK's creative industries," it said.