Fox/Sky Concerns Point to UK Approval With Concessions, Wells Fargo Analyst Says
That U.K. Secretary of State for Culture, Media and Sport Karen Bradley is leaning toward referring Fox's proposed purchase of Sky to receive further investigation bodes well for the deal, Wells Fargo analyst Marci Ryvicker said in a note Thursday…
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to investors. Given Bradley has voiced concerns about Fox/Sky having too much media power in the U.K., Ryvicker said, "The ball is in [Fox's] court" to offer more concessions, which seems likely "and more procedural than anything else." In a statement Thursday to Parliament, Bradley said Fox/Sky would give the Murdoch Family Trust that controls Fox "material influence over news providers with a significant presence across all key platforms," and the deal "may increase members of the Murdoch Family Trust’s ability to influence the overall news agenda and their ability to influence the political process and it may also result in the perception of increased influence." Bradley gave Fox and Sky a July 14 deadline to respond.