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Twenty-First Century Fox Inc. expands due to the takeover of the British Company Sky

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Twenty-First Century Fox Inc. expands due to the takeover of the British Company Sky
April 10
08:00 2017

Friday evening brought good news to the American media giant Twenty-First Century Fox. The matter is that the European commission has considered a question of the acquisition of the British network Sky by the company. According to the results of the audit, it was concluded that such a transaction would not lead to the creation of the monopoly in Europe. This means that the European Commission will not make additional demands regarding the transaction.
The British company Sky is estimated at 18.5 billion pounds. To date, the American giant owns 39% of Sky. The remaining shareholding (61%) is estimated at 11.7 billion pounds (this is about 14.3 billion US dollars).

Sky is not a local company. The company controls paid broadcasting in such European countries as Germany, Italy, Ireland, Austria, and, of course, the United Kingdom. Rupert Murdoch (owner of the corporation Twenty-First Century Fox) controls a significant part of broadcasting in the USA, bossing one of the largest film studios and such TV channel packages as Fox and National Geographic.

Proceedings of the European Commission were caused by indignant statements in the press about the growing influence of Rupert Murdoch in Europe. The fact is that James Murdoch (Rupert Murdoch’s son) is a chairman of Sky and CEO of Fox at the same time. Such important publications as The Sun and The Times are under control of the influential American. The British fear that the promiscuous gentleman will form an opinion on certain events in the country as easy as snap his fingers. The European Commission does not see any cause for concern, so that already influential Murdoch will become even more powerful.

 

The material was prepared with the participation of  Vladimir Haritonov,
a leading analyst of the brokerage company VOSPARI.

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