Sky bid faces wider UK probe

The UK plans to expand its probe into 21st Century Fox’s bid for broadcaster Sky, exposing Rupert Murdoch and his family to further scrutiny over governance at their media empire and adding to the uncertainty about the £11.7bn (€12.8bn) deal.

UK Culture Secretary Karen Bradley is inclined to ask the Competition and Markets Authority to conduct a months-long investigation into Fox’s commitment to broadcasting standards, in addition to the widely expected review over whether the deal would give the Murdochs too much influence over UK media, she said. The scope of the planned CMA referral surprised investors, given Ms Bradley had initially said she was inclined to confine the review to questions of media-influence.

Shares of Sky, which is 39% owned by Fox, fell as much as 5.1% at one stage but later pared most of the losses.