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Sky News future under threat

Owners threaten to close station to aid Fox takeover

The future of Sky News could be under threat after its parent company said it would consider closing the station in order to aid 21st Century Fox’s takeover bid.

Sky has told the Competition and Markets Authority (CMA) that it would close the news channel if ownership becomes an impediment to the proposed £11.7 billion takeover.

In its submission to the CMA, Sky said that the continued operation of Sky News should not be assumed in light of concerns that the Fox takeover could harm media plurality in the UK.

Sky said it would be “review [its] position” in the event that the “continued provision of Sky News” impeded the Fox deal or “other corporate opportunities”. 

It also stated that CMA should not assume its current contribution to media plurality “absent the transaction”.