UK Takeover panel sets Disney/Sky conditions

CREDIT Courtesy of Disney  Pixar

The UK Takeover Panel ruled that the Walt Disney Co would have to make a mandatory offer for Sky PLC after completing its proposed USD60.00 billion takeover of most the assets of Twenty-First Century Fox Inc, which now owns 39% of the pay-TV operator and has been trying to acquire the remainder.

"The basis for this ruling is that... the executive considers that securing control of Sky might reasonably be considered to be a significant objective of Disney's acquiring control of Fox".

Rupert Murdoch's Fox agreed an offer to buy all of Sky 17 months ago, but is still waiting approval.

Each of Disney, Fox and Sky has accepted these rulings.

Fox now owns 39 percent, but has offered to take over the remaining 61 percent to take full control.

The UK Takeover Panel said Disney must offer Sky shareholders £10.75 a share if competition authorities block Fox's takeover of the 61 per cent of Sky it does not already own.

Earlier this month, 21st Century Fox said the Walt Disney Company is interested in buying United Kingdom -based Sky News regardless of whether its $52.4 billion deal for certain Fox assets goes through.

Khloe Kardashian Gives Birth To Baby Girl!
Understandably, the extremely pregnant Khloe allegedly "went ballistic" when she found out about her boyfriend's cheating. The Keeping Up with the Kardashians star revealed that she was expecting a baby girl in January .

In a separate development, Tom Watson, the deputy leader of the Labour Party, said that Fox's potential involvement in a sports rights cartel should be taken into consideration by the regulators before they make a final decision on Mr Murdoch's takeover of Sky.

Fox's offer is under regulatory scrutiny of British regulators.

Disney argued that owning Sky was not a major driver of its overall Fox deal - which includes buying Hollywood studio 20th Century Fox - and so that rule should not apply.

The Murdoch family, which controls Fox, wants to consolidate their hold on Sky as traditional media firms, faced with new competitors such as Netflix and Amazon, look to combine content creation and distribution channels.

The three companies - Sky, Fox and Disney - signed a confidentiality agreement in March.

Sky shares rose 0.1 percent to 13.11 pounds at 1:15 London.

Related news:

Hot News

isis-killer-beheading-video-story-top Fultz honoured to become youngest to record National Basketball Association triple-double
Apr 13, 2018 - 00:40
The Philadelphia 76ers star was seen wearing a black mask before the team's game against the Milwaukee Bucks on Wednesday. LeBron James scored 10 points in just over 10 minutes before the Cavaliers absorbed a 110-98 loss to the Knicks.

isis-killer-beheading-video-story-top What Are Analysts Report About Facebook, Inc. (FB)
Apr 13, 2018 - 00:37
Facebook, Inc .'s institutional ownership is 73%, while its institutional transactions stand at 0.29%. (NASDAQ: FB ). On Monday, April 2nd, Mark Zuckerberg sold 145,000 shares of Facebook stock . $134,125 worth of Facebook, Inc .

isis-killer-beheading-video-story-top Pregnant Singer Shot Dead after Being Told to Stand up While Performing
Apr 13, 2018 - 00:37
According to Geo News , a guest, identified as Tariq Jatoi, had asked her to stand up and dance with him. Samina was in Kanga village for an event where she was sitting on stage, singing for her audience.

isis-killer-beheading-video-story-top Tyson Fury announces comeback fight on June 9 in Manchester
Apr 13, 2018 - 00:36
The fight is expected to be the most anticipated bout the division has seen since Lennox Lewis stopped a faded Mike Tyson in 2002. Tyson Fury has announced his return to boxing and vowed to reclaim his world titles from Anthony Joshua .

isis-killer-beheading-video-story-top France President Macron says has 'proof' of Syrian chemical attack, vows response
Apr 13, 2018 - 00:34
Kremlin spokesman Dmitry Peskov cautioned against "any steps which could lead to an escalation of tensions". On Tuesday, Mr Macron said any French action would target Syria's chemical weapons abilities.

isis-killer-beheading-video-story-top US lawmakers say Trump exploring rejoining Trans-Pacific Partnership
Apr 13, 2018 - 00:34
Farm-state lawmakers have pushed for greater sales of the higher ethanol blend to boost demand for the corn-based fuel. He says that's shifting work to competitors outside the U.S.

isis-killer-beheading-video-story-top Israel comes to halt to remember Holocaust victims
Apr 13, 2018 - 00:33
Respondents were selected at random and constituted a demographically representative sample of the adult population in the United States.

isis-killer-beheading-video-story-top Facebook-Zuckerberg US Congress Hearings: Key Points
Apr 13, 2018 - 00:33
The complaints come as Facebook CEO Mark Zuckerberg prepares testifies before Congress in hearings set for Tuesday and Wednesday. The Facebook CEO was also grilled about user privacy, data collection, political bias and the social network's business model.

isis-killer-beheading-video-story-top ESPN gets in on the streaming wars with ESPN+
Apr 13, 2018 - 00:32
The app will also be available for Apple and Android TVs, Amazon tablets, Amazon Fire TV products, and Google 's Chromecast. As TechCrunch reported , ESPN's new service came with a redesigned app, which will put an emphasis on personalization.

isis-killer-beheading-video-story-top Ronaldo hugs Buffon after the thrilling clash
Apr 13, 2018 - 00:26
Buffon's dismissal generated a storm back home with Turin daily La Stampa lamenting "the beauty of football , and its cruelty". With Buffon sent off, Ronaldo scored past substitute goalkeeper Wojciech Szczesny as Madrid triumphed 4-3 on aggregate.

isis-killer-beheading-video-story-top 'Deliver justice to TN':Kamal Haasan's message to Modi on Cauvery issue
Apr 13, 2018 - 00:26
Kamal Haasan's letter comes the same day on which PM Modi is visiting Tamil Nadu to attend the Defence Expo 2018 in Mahabalipuram. He said, "The Supreme Court has already performed its constitutional role by delivering the judgement".

isis-killer-beheading-video-story-top Proud moment! IGI Airport in Delhi breaks into world's top 20 list
Apr 13, 2018 - 00:24
YYZ was the busiest Canadian airport with just over 47 million passengers a year ago , sitting 30th overall on the worldwide list. The Indira Gandhi International (IGI) Airport, operated by the Delhi International Airport Ltd , is also among the top 20.

isis-killer-beheading-video-story-top PMO clarifies over PM Modi's tour programme for April 12
Apr 12, 2018 - 03:10
BJP president Amit Shah will observe a hunger strike in Hubli, Karnataka, while party MPs will fast in their constituencies. According to media reports, Home Minister Rajnath Singh would fast in Lucknow and Roads Minister Nitin Gadkari in Nagpur.

isis-killer-beheading-video-story-top Fans gather outside Salman's residence in Mumbai and Jodhpur Jail
Apr 12, 2018 - 02:57
Four other Bollywood stars accused in the case - Saif Ali Khan , Sonali Bendre, Tabu and Neelam - were acquitted Thursday. Salman Khan's sister Alvira Khan arrives for his bail hearing at the session court in Jodhpur on Saturday.

isis-killer-beheading-video-story-top Row deepens over 'shrine' to burglar stabbed during break
Apr 12, 2018 - 02:51
The pensioner's arrest provoked an outcry from neighbours and an online fundraising campaign has gathered thousands of pounds. But the whole memorial was down again within 20 minutes, removed by a man who called it an "insult" to Mr Osborn-Brooks.