Money Britain toughens stance on Murdoch's bid for Sky

13:06  13 september  2017
13:06  13 september  2017 Source:   Reuters

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  Hamilton wins Italian GP to move ahead of Vettel Lewis Hamilton won the Italian Grand Prix virtually unchallenged from pole position Sunday and moved ahead of Sebastian Vettel to take the lead in the drivers' standings.Hamilton finished nearly five seconds ahead of Mercedes teammate Valtteri Bottas while Vettel came third in his Ferrari, more than half a minute behind.

LONDON: Britain toughened its stance on Rupert Murdoch ' s US billion takeover of Sky on Tuesday, an unexpected move that sent shares in the pay-TV group down sharply on fears it may be blocked. Fox returned with an agreed bid for Sky in December last year.

LONDON: Britain toughened its stance on Rupert Murdoch ' s US billion takeover of Sky on Tuesday, an unexpected move that sent shares in the pay-TV group down sharply on fears it may be blocked. Fox returned with an agreed bid for Sky in December last year.

  Britain toughens stance on Murdoch's bid for Sky © REUTERS/Mike Segar The British government toughened its stance on Rupert Murdoch's $15 billion takeover of Sky (SKYB.L), sending shares in the pay-TV group down sharply on fears it would take longer, and be more difficult, to complete.

British Media Secretary Karen Bradley had already said it would ask the competition regulator, the CMA, to examine whether the deal would give Murdoch's Twenty-First Century Fox (FOXA.O) too much control over the media.

On Tuesday she said she was minded to also ask for a six-month investigation into whether Fox would uphold broadcasting standards, following complaints over the management of Fox News in the United States.

Ten's employees and creditors, except Fox, to be paid in full in CBS deal

  Ten's employees and creditors, except Fox, to be paid in full in CBS deal Employees and general trade creditors of Network Ten will get 100 per cent of what they are owed by the end of the year under an offer by US broadcasting giant CBS to buy the commercial television station out of administration. However, the companies that produce shows for Ten will only get their full payment if they stay with the Network, and the Murdoch-controlled Twentieth Century Fox has been asked to renegotiate its content deal, worth up to $195 million, or take a one-off $3.4 million payment. CBS is providing $205 million to Ten to cover creditor costs, including $172.

LONDON: Britain toughened its stance on Rupert Murdoch ' s US billion takeover of Sky on Tuesday, an unexpected move that sent shares in the pay-TV group down sharply on fears it may be blocked. Fox returned with an agreed bid for Sky in December last year.

The British government toughened its stance on Rupert Murdoch ' s billion takeover of Sky , sending shares in the pay-TV group down sharply on fears it would take longer, and be more difficult, to complete.

Sky logo is seen in west London, Britain© REUTERS/Toby Melville Sky logo is seen in west London, Britain Shares in Sky fell 4 percent on the unexpected twist.

"I have taken careful account of all relevant representations ... and have, today - as required by the legislation - written to the parties to inform them I am now minded-to-refer the merger to the CMA on the grounds of genuine commitment to broadcasting standards," she told parliament."

Fox, which already owns 39 percent of Sky, agreed a deal to buy the company in December last year.

Lachlan Murdoch, Bruce Gordon lodge new bid for Network Ten .
Lachlan Murdoch and Bruce Gordon have lodged a fresh bid for Network Ten, increasing their offer for creditors of the troubled broadcaster pool from $35 million to $55 million. The media moguls said on Friday in a proposal put to Ten's administrator that their new offer had a "single implementation path" and "lower transaction risk" than their previous bid, thanks to the Senate voting 31-27 in favour of lifting ownership restrictions on Thursday night.The laws must still return to the House of Representatives in October to approve amendments before heading back to the Senate, but the voting outcome is likely to be the same.

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