Britain's Culture Minister Karen Bradley said Friday she is considering asking for a regulatory investigation into whether 21st Century Fox's multi-billion dollar take-over of Sky is ethical. In a statement, Bradley confirmed that Sky and 21st Century Fox have now formally notified the European Commission of their intention to merge.
Under EU rules, the minister will from Monday have 10 working days to decide whether to issue a public interest intervention notice.
"I have, today, written to the parties to inform them that I am 'minded to' issue a European Intervention Notice," she said in the statement, adding that she had "concerns" about the deal. "To be clear - I have not taken a final decision on intervention at this stage," Bradley explained. Both Sky and Fox had been asked to submit written representations. If an intervention notice is issued, British media watchdog Ofcom will conduct a 40-day initial investigation into the deal.
Fox announced in December it had reached a formal agreement to buy the 61-percent stake in Sky it does not already own. The deal, valued at $14.8 billion (14-billion-euro), would expand the footprint of the media-entertainment powerhouse owned by Rupert Murdoch.