Another twist in the road for the Sky/Fox merger. Disney has raised its bid for 21st Century Fox’s assets to $71.3bn, while stepping up its commitments with regards to the Sky/Fox acquisition.
Disney has committed to funding Sky News to the tune of £100m a year for the next 15 years, increasing its previous funding guarantee by five years. There will also be a restriction on selling Sky News without the UK Government’s approval and a commitment to the preservation of Sky News’ editorial independence.
The Culture Secretary, Matt Hancock, must consult for 15 working days on the commitments, but has indicated he is inclined to accept. The consultation will end on 4 July.
Please contact Tim Cowen if you would like to discuss the Sky/Fox merger, the consultation, or the merger regime more generally.