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Culture secretary expected to decide on Fox/Sky deal this week

Comcast has until the end of this week to make its own offer for Sky

Culture Secretary Matt Hancock is expected to reach a final decision on 21st Century Fox’s proposal to acquire the 61 per cent of Sky it doesn’t own this week.

Hancock had previously said Fox would need to sell Sky News and underwrite its funding for 15 years after concerns were raised over it owning a large portion of the UK media.

Submissions regarding the final consultation closed on July 4th.

Comcast, which is thought to have been considering its own bid for the satellite company, has to show its hand by the end of the week.

Fox originally announced its plan to fully acquire Sky in December 2016, but a long process of investigations from Ofcom and the Competition and Markets Authority has slowed the deal’s progress.

The deal for Sky comes as Disney and Comcast compete for a number of Fox’s assets, including Sky itself.