21st Century Fox ‘expects Sky approval in 2018’ – BBC News

Image copyright Getty Images
Image caption Campaigners from Avaaz protested in London ahead of Culture Secretary Karen Bradley’s remarks in June

Approval of 21st Century Fox’s proposed takeover of Sky is likely to come in the first half of 2018, the company said on Wednesday, in a sign it is gearing up for wider review of the merger.

Fox had hoped to close the deal in 2017 but it has been delayed by regulators.

It follows concerns a deal would give the family of businessman Rupert Murdoch too much control over UK news.

US-based Fox already has a minority stake in Sky.

Both Sky and Fox are controlled by Mr Murdoch, who also owns the Times and the Sun newspapers. Fox is seeking to buy the 61% of Sky it doesn’t own.

In June, Culture Secretary Karen Bradley said she was “minded” to refer the almost 12bn (9bn) deal to the Competition and Markets Authority (CMA) for wider review, based on the risks to media plurality.

Image copyright Getty Images
Image caption James Murdoch said he remained confident the deal would be approved

This week, she asked Ofcom for clarification about parts of its investigation of the proposal, extending the timeline for her decision to the end of August.

The request came after a lawsuit was filed in the US, alleging false quotes had been inserted into a Fox News story that was coordinated with the White House. Fox, which later retracted the story, has disputed the allegations.

Confident of approval’

Fox told investors on Wednesday that setting aside money for the deal remains a priority, noting that the company has already received necessary approvals in Europe.

A wider review could push back approval to the end of June 2018, the firm said.

“We remain confident our transaction will be approved, but more likely in the first half of 2018 than before the end of this calendar year,” said James Murdoch, chief executive of 21st Century Fox.

Mr Murdoch made the comments to analysts as the company released its latest earnings. He is also chairman of Sky News.

Over the 12 months to the end of June, Fox made $3bn in profit for shareholders, with revenues growing by 4% to $28.5bn.

The firm’s revenue in the fourth quarter increased 1.5% to $6.7bn, powered by growth in its cable division, which includes Fox News and the FX channel.

Adapting to media changes

But profits in the quarter contracted, as the company struggled to keep audiences at its broadcast television division and for its movies.

The firm reported $476m in shareholder profits for the quarter, down more than 12%.

Fox, like other media companies, is grappling with the way the internet and on-demand video has changed media consumption, with audiences increasingly going online.

Disney on Tuesday said it would invest in its own streaming sites and end a distribution deal with Netflix.

Fox said the changes are reinforcing its focus on news and sports, which are more likely to be watched in real time. The firm is also exploring new distribution options.

It has announced an ad-free offering with Comcast, expanded its partnership with Hulu and is exploring its own apps.

More From this publisher : HERE

 


RELATED PRODUCTS
  • Put small animated peel image at the top corner right or left on webpage
  • The stunning secret of turning your wife on with the push of a button.
  • ApeSurvival is all about survival and self-defense products, tips and news.
  • Change Your Mind, Change Your Life Influence Your Mind and Others.
  • Join Our Community To Learn All About Commodity Trading And Show Off Your Trading Skills
  • Destroy workout plateaus and trash boring and outdated interval workout with 51 news
  • Packed full of the info you need for profitable horse racing
  • Shows Recommendations To Buy Or Sell Several Currency Pairs.
  • Clickbank Ads
     

    If you like our content help us with a share… or two …  

    Also -  I have some free stuff for you .......

    Nr 1. In This FREE Report you can Discover:

    Secrets to acquiring the freshest, hottest leads via YouTube In-Stream ads quickly and easily! Best secret tips for the most effective targeting for your ads! Totally legal, but little-known method for literally stealing traffic from your competitors! Get more traffic to your videos and landing pages without spending a fortune! And much more - all within this special FREE report!

     

    Nr 2. Did you know you can Absolutely EXPLODE YOUR EMAIL LIST FOR FREE with UNTOUCHED offline sources?

     

    Nr 3. The #1 secret to becoming an affiliate superstar - Earn your first $100 online – without a dime to invest.

    If you’re still looking to “make it online – I have just the thing for you. It’s a video series that shows how to make your first $100 online – even if you don’t have a dime to invest. Yes – nothing.  Free.  Nada. Is this possible? You bet. It’s the most powerful system used by those “in the know”. Good things don’t have to be difficult. And they don’t only come to those who wait. Have A Look

     

    Nr 4. Top 10 Email Marketing Mistakes. Which of these mistakes do you make?

     

    Nr 5.  You can learn about : The hottest social networking site that will send an unlimited stampede of traffic to your site - for FREE! How to quickly locate a swarm of hungry buyers using "information portals"! The fast and easy way to use simple images to siphon targeted traffic, on command! Learn how to get the most possible traffic from Instagram, and make sure that traffic converts! And much more ...

     

    Nr 6. It’s no secret… Facebook is an incredible place to get tons of free, viral traffic. But… most people are going about it all wrong.  How many of these mistakes are you making? Download the free report to find out.

       

    Nr 7.  Special free report .  It's called "Operation Midas Touch" and you can download it here...

    The report features a surefire method for generating at least $1000 per week online,without a website or product of your own!

    Nr 8.  Instagram is still one of the hottest ways to get a LOT of traffic fast. All by sharing images. Sounds easy enough, yeah? Well, yes and no. If you want to really start driving a lot of  traffic and making sales using Instagram then you should download this report.

    Nr 9.  When it comes to creating a product online there are so many ways to approach it. Wouldn’t it be great to just get the meat of it all so you can get started faster? Well, the good news is, today you can download a guide called the Product Creation Formula Quickstart Guide. It’s as the title suggests - a Quickstart guide. You’ll get a list of action steps to take right away. Download your copy today !

    Nr 10. Would you like to finally USE all of that dusty PLR you have sitting around on your harddrive? Or maybe find the resources for the best PLR available - at the best prices? What about how to use that PLR to make you money with just a few minutes of work. Well, you’re not going to want to miss this!

      Nr 11. Buzzfeed’s top post has more than 21 million views. Think about that for a sec… ONE of their articles has had over 21 million people who have read it! And they have thousands of articles... what would you do with that kind of traffic? A friend of mine hacked their method and was able to use it to get 11,592 targeted new subscribers in 2 weeks on their very first attempt!

    Nr 12. Push notifications are one of today's hottest trends in website traffic and conversions, and for good reason. Studies have shown that as many as 40% of people will opt-in for push notifications, which is about TEN TIMES the rate of people who opt-in for emails! That’s huge! Not only that, but they're also highly effective at pulling clicks, as well. Some studies have shown CTR at an average of around 40%, with highs of as much as 80%! Again, that’s huge!

    Nr 13. Would you like to know how to get more money from the exact same number of website visitors you’re currently getting? Even if you’re website is getting as few as 1-2 visitors a day, this report will show you how to increase your profits using these few handy hacks.

    Nr 14. People have now realised that it's not the size of the list which matters, it's the quality. ... and the only way to create a quality list is by launching your own products. Let it be $7 ebooks, $17 info products, $27 video training product or software's... all of these work. My good friend Kevin Fahey has is revealing how he's launched over 20 products in the past 4 years, many of them top sellers. Needless to say he's banked a handsome amount in this time.

    Nr 15. Do you ever feel that the man you like or even love, just doesn't see you or desire you in way you want him to? Or... maybe you're able to get a man's attention though not the right kind of attention? Or... maybe you're still single because you wait and wait for men to approach you first? What you may not know is that the way we flirt will either attract the "wrong" man for us or the "right" man.

    Nr 16. When it comes to getting sales and leads online, there is ONE thing that 95% of marketers use... it's called a LIST. My friend Jimmy just released a free book that explains WHY a list is important and how YOU can build your own list. It's available right here (and it won't cost you a penny)

    Nr 17. If you have tried everything, and still aren't able to get your Ex back, then you need to pay attention.

    Nr 18. What if I told you that you could make ANY woman WANT to do ANYTHING for you? Would you think I'm crazy? Well... what If I told you that you could also make her LOVE every minute of it and come back for more?

       

    Nr 19. I have a special free plugin for you today. It's called "Covert Hover Mini"

    This plugin will triple your blog traffic by compelling your visitors to share your images on social media. This is some really clever stuff and it works like a charm. After you grab your free plugin, don't  forget to read the free bonus report as it will show exactly how and why this strategy works like crazy.

    Nr 20. The days of being able to get away with a basic WP theme and a pic or two are gone, your site needs to look good. Even Google are looking for you to have engaging graphics on your site. But getting good quality graphics made for your site is a pain, AND it will cost you both time and money (if you outsource it). But I have a special free download for you today. A virtual treasure chest of over 21K profit pulling graphics you can start sing today to generate more traffic & sales!

    Nr 21. 20 professional full HD background videos. These background videos are perfect for giving your videos that extra kick they need to stand out from the crowd Oh yeah they are in full 1080p HD too, I hope you'll enjoy them.

    Nr 22. If you've ever failed to create a WordPress site of your own or typically waste hours & even weeks trying to figure it all out on your own....

    Nr 23. No doubt, you've seen all of the video launches lately! There is a reason for it... Video marketing is a GREAT way to make money, and with the recent creation tools making it super accessable for anyone to get started... It's no surprise that more people are making videos. However... there is a missing element to most video marketing products...

    Nr 24. For the first time ever... You can get the straight scoop on how someone is selling over $1,000,000/year of t-shirts on Facebook!

    Use them  .... and have fun !