LONDON (Alliance News) – UK Secretary of State for Culture Karen Bradley on Friday confirmed that she has extended the deadline for the inquiries by the Competition & Markets Authority and telecoms regulator Ofcom into 21st Century Fox Inc’s proposed takeover of Sky PLC.
The CMA and Ofcom originally had set a deadline of May 16 to report on the proposed merger. However, in light of the UK general election called for June 8, Bradley has written to the CMA and Ofcom to extend this deadline to June 20.
Bradley had requested they launch inquiries into the deal on public interest grounds of media plurality.
However, in a statement Bradley said that, “given the proximity of the decision to the forthcoming general election and following discussions with the parties, Ofcom, the CMA and the Cabinet Office Propriety and Ethics team”, she opted to extend the deadline.
Shares in Sky were down 0.2% at 982.50 pence Friday.
By Hana Stewart-Smith; email@example.com; @HanaSSAllNews
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