Editing Sky Group (section)

====Competition around being acquired====
On 9 December 2016, 21st Century Fox announced that it had made an offer to acquire the remainder of Sky plc for £11.7&nbsp;billion at a value of £10.75 per-share. It marked Fox's second attempt to take over Sky, as its previous attempt under News Corporation was affected by the [[News of the World phone hacking scandal investigations|News International scandal]]. The two companies reached an agreement on the deal on 15 December, subject to regulatory approval.<ref name="bloomberg-foxtakeover">{{cite news|title=21st Century Fox Agrees to Buy Sky|url=https://www.bloomberg.com/news/articles/2016-12-09/fox-in-preliminary-deal-to-acquire-sky-for-10-75-pounds-a-share|newspaper=Bloomberg.com| date=9 December 2016 |access-date=11 December 2016}}</ref><ref name="bbc-sky21cf">{{cite news|title=Sky and 21st Century Fox agree £18.5bn takeover deal|work=BBC News|date=15 December 2016|url=https://www.bbc.com/news/business-38326530|access-date=15 December 2016}}</ref>

[[Ofcom]] expressed concern that this purchase would give the Murdoch family "material influence over news providers with a significant presence across all key platforms" and "increased influence over the UK news agenda and the political process". However, the regulator did deem that a Fox-owned Sky would be "fit and proper" to hold broadcast licences, despite the recent sexual harassment controversies that had emerged at the US [[Fox News Channel]], as there was no evidence to the contrary.<ref>{{cite web|title=Fox News Scandals, Political Influence Concerns Cast Long Shadow Over Sky Review|url=https://variety.com/2017/tv/news/fox-news-sexual-harassment-sky-21st-century-fox-1202482623/|website=Variety|date=29 June 2017|access-date=29 June 2017}}</ref><ref name="guardian-bradley">{{cite web|title=Murdoch's Sky bid likely to be referred to competition authorities|url=https://www.theguardian.com/business/2017/jun/29/rupert-murdoch-sky-takeover-bid-referred-to-competition-authorites|work=The Guardian|date=29 June 2017|access-date=29 June 2017}}</ref><ref name="nyt-foxreview">{{cite news|title=Major Setback for Murdoch in $15 Billion Sky Takeover|url=https://www.nytimes.com/2017/06/29/business/media/sky-21st-century-fox.html|website=The New York Times|date=29 June 2017|access-date=29 June 2017|last1=Scott|first1=Mark|last2=Steel|first2=Emily}}</ref> [[Avaaz]] opposed Ofcom's opinion, stating that the regulator "made mistake after mistake in deciding to give the Murdochs a clean bill of health to take over more of our media".<ref>{{Cite news|url=https://www.hollywoodreporter.com/news/foxs-sky-deal-faces-new-challenge-fit-proper-decision-1034562|title=Fox's Sky Deal Faces Challenge to "Fit and Proper" Decision|work=The Hollywood Reporter|access-date=29 September 2017}}</ref>

[[The Walt Disney Company]] announced on 14 December 2017 that it would [[Acquisition of 21st Century Fox by Disney|acquire 21st Century Fox]], including its stake in Sky plc but barring specific US assets. Fox stated that this purchase would "not alter [its] full commitment and obligation to conclude our proposed transaction". Analysts suggested that Disney's proposed transaction could ease regulatory concerns over Fox's purchase of Sky, as the company will eventually lose its ties to the Murdoch family. Disney has a narrower scope of media ownership in the country than the Murdoch family.<ref>{{Cite news|url=https://deadline.com/2017/12/disney-fox-deal-sky-deal-still-on-the-table-expected-to-close-june-2018-1202226861/|title=Disney-Fox Deal: Sky Deal Still On The Table, Expected To Close By June 2018|last=White|first=Peter|date=14 December 2017|work=Deadline|access-date=14 December 2017|language=en-US}}</ref> Sky already has a relationship with Disney for its [[Sky Cinema]] service, holding pay television rights to its films in the United Kingdom and operating a dedicated Sky Cinema channel devoted to Disney content.<ref>{{Cite news|url=https://www.theguardian.com/media/2013/feb/21/sky-movies-disney-new-channel-uk|title=Sky Movies Disney: new channel to show UK TV film premieres|last=Deans|first=Jason|date=21 February 2013|work=The Guardian|access-date=15 December 2017|language=en-GB|issn=0261-3077}}</ref>

A preliminary report by the [[Competition and Markets Authority]] issued January 2018 called for the insulation or outright divestment of [[Sky News]] as a condition of the purchase, so that it is editorially independent from the Murdoch family.<ref>{{Cite web|url=https://www.theguardian.com/business/2018/jan/23/rupert-murdoch-sky-bid-blocked-21st-century-fox-cma|title=Rupert Murdoch's Sky bid is not in public interest, says regulator|last=Sweney|first=Mark|date=23 January 2018|work=The Guardian|access-date=24 January 2018}}</ref> Sky had threatened to reevaluate the channel's continued operations if they "unduly impeded merger and/or other corporate opportunities available in relation to Sky's broader business". The channel has operated on a loss of at least £40 million per-year.<ref>{{Cite news|url=https://www.bbc.com/news/business-41909321|title=Sky threatens to shut down Sky News|date=8 November 2017|work=BBC News|access-date=22 February 2018}}</ref><ref>{{Cite news|url=https://www.bbc.com/news/business-42370822|title=Sky News faces uncertain future|last=Plummer|first=Robert|date=15 December 2017|work=BBC News|access-date=22 February 2018}}</ref> In February 2018, Fox proposed the establishment of an independent editorial board, and committing to fund the network for at least 10 years. This commitment would be inherited by Disney after the completion of its purchase of 21st Century Fox.<ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2018-02-20/fox-ties-disney-to-sky-news-guarantee-to-win-takeover-approval|title=Fox Ties Disney to Sky News Guarantee to Win Takeover Approval|date=20 February 2018|work=Bloomberg|access-date=22 February 2018}}</ref><ref>{{Cite news|url=https://variety.com/2018/tv/news/fox-offers-revised-sky-news-commitment-british-competition-watchdog-1202704728/|title=Fox Offers to Increase Sky News Commitment to Satisfy British Competition Watchdog|last=Mitchell|first=Robert|date=20 February 2018|work=Variety|access-date=22 February 2018}}</ref> On 3 April 2018, Fox stated that Disney had "expressed an interest in acquiring Sky News", which would not be conditional on its proposal to acquire 21st Century Fox.<ref>{{Cite news|url=https://variety.com/2018/tv/news/disney-sky-news-21st-century-fox-takeover-bid-1202742166/|title=Disney Could Acquire Sky News in Fox-Sky Deal's Latest Twist|last=Clarke|first=Stewart|date=3 April 2018|work=[[Variety (magazine)|Variety]]|access-date=3 April 2018}}</ref>

A [[bidding war]] began 25 April 2018, when the competing US media and telecoms conglomerate [[Comcast]] (owner of [[NBCUniversal]]), announced a counter-offer for Sky at £12.50 per-share, or approximately £22.1 billion.<ref>{{Cite news|url=https://www.bbc.com/news/business-43209100|title=Murdoch bid for Sky challenged by US giant|date=27 February 2018|work=BBC News|access-date=27 February 2018}}</ref><ref>{{Cite news|url=https://deadline.com/2018/02/comcast-mulls-renewed-21st-century-fox-pursuit-1202285921/|title=Comcast Mulls Renewing Its 21st Century Fox Assets Pursuit – Report|last=Haring|first=Bruce|date=12 February 2018|work=Deadline Hollywood|access-date=24 February 2018}}</ref><ref>{{Cite news|url=https://variety.com/2018/biz/news/comcast-fox-bid-disney-merger-1202694858/|title=Comcast May Make Another Bid for 21st Century Fox (Report)|date=12 February 2018|work=Variety|access-date=24 February 2018}}</ref><ref>{{Cite news|url=https://www.bbc.co.uk/news/business-43891132|title=Comcast starts £22bn bidding war for Sky|last=Wilson|first=Bill|date=25 April 2018|work=BBC News|access-date=25 April 2018|language=en-GB}}</ref> NBCUniversal CEO [[Steve Burke (businessman)|Steve Burke]] stated that purchasing Sky would roughly double its presence in English-speaking markets, and allow for synergies between the respective networks and studios of NBCUniversal and Sky.<ref>{{Cite news|url=https://deadline.com/2018/02/nbcus-steve-burke-claims-comcasts-31b-sky-deal-will-boost-scripted-tv-film-fortunes-1202304579/|title=NBCU's Steve Burke Claims Comcast's $31B Sky Deal Will Boost Scripted TV & Film Fortunes, Fox Notes No "Firm Offer" Was Made; 21st Century Fox Reacts – Update|last=White|first=Peter|date=27 February 2018|work=Deadline Hollywood|access-date=27 February 2018}}</ref>

On 5 June 2018, [[Secretary of State for Digital, Culture, Media and Sport|Culture Secretary]] [[Matt Hancock]] cleared both 21st Century Fox and Comcast's respective offers to acquire Sky plc. Fox's offer was contingent on the divestiture of Sky News.<ref>{{Cite news|url=https://www.bbc.com/news/business-44373621|title=Sky bid battle looms after government nod|date=5 June 2018|work=BBC News|access-date=5 June 2018|language=en-GB}}</ref><ref>{{cite news |last1=Szalai |first1=Georg |title=U.K. Approves Fox's Sky Bid, Subject to Sale of Sky News, and Clears Comcast Offer |url=https://www.hollywoodreporter.com/news/uk-approves-foxs-sky-bid-subject-sale-sky-news-clears-comcast-offer-1115661 |access-date=5 June 2018 |work=The Hollywood Reporter}}</ref> On 12 June 2018, Comcast announced a US$65 billion counter-offer to acquire the 21st Century Fox assets that Disney had offered to purchase.<ref>{{Cite news|url=https://www.theverge.com/2018/6/13/17457244/comcast-21st-century-fox-film-tv-studios-acquisition-deal-announced|title=Comcast makes $65 billion offer to steal 21st Century Fox away from Disney|work=The Verge|access-date=13 June 2018}}</ref> However, Fox subsequently agreed to an increased, US$71.3 billion offer from Disney instead.<ref>{{Cite news|url=https://www.wsj.com/articles/fox-disney-announce-new-deal-1529496937|title=21st Century Fox Agrees to Higher Offer From Disney|last1=Hagey|first1=Keach|date=21 June 2018|work=Wall Street Journal|access-date=26 June 2018|last2=Schwartzel|first2=Erich|language=en-US|issn=0099-9660}}</ref> On 15 June 2018, the European Commission gave antitrust clearance to Comcast's offer to purchase Sky, citing that in terms of their current assets in Europe, there would be limited impact on competition. Comcast included a 10-year commitment to the operations and funding of Sky News similar to that of Disney's offer.<ref>{{Cite news|url=https://www.wsj.com/articles/comcast-clears-eu-hurdle-in-29-billion-bid-for-sky-1529076176|title=Comcast Clears EU Hurdle in $29 Billion Bid for Sky|last=Woo|first=Stu|date=15 June 2018|work=Wall Street Journal|access-date=18 June 2018|language=en-US|issn=0099-9660}}{{subscription required}}</ref><ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2018-06-15/comcast-clears-eu-antitrust-hurdle-for-sky-ahead-of-disney-fight|title=Comcast Clears EU Antitrust Hurdle for Sky Ahead of Disney Fight|date=15 June 2018|work=Bloomberg.com|access-date=18 June 2018|language=en}}{{subscription required}}</ref><ref>{{Cite news|url=https://www.hollywoodreporter.com/news/eu-clears-comcasts-bid-sky-1107237|title=EU Clears Comcast's Bid for Sky|work=The Hollywood Reporter|access-date=18 June 2018|language=en}}</ref> On 19 June 2018, Disney formally agreed to acquire Sky News as part of Fox's proposed bid, with a 15-year commitment to increase its annual funding from £90 million to £100 million.<ref>{{Cite news|url=https://www.hollywoodreporter.com/news/walt-disney-agrees-acquire-sky-news-boost-funding-1119303|title=Walt Disney Agrees to Acquire Sky News, Annual Funding to Be Boosted to $130M|work=The Hollywood Reporter|access-date=19 June 2018|language=en}}</ref>

On 11 July 2018, Fox increased its bid for Sky to £14.00 per share, valuing it at £24.5 billion. Comcast subsequently counterbid just hours later with an offer at £14.75 per-share, valued at £26 billion.<ref>{{Cite news|url=https://www.bbc.co.uk/news/business-44791383|title=Murdoch's Fox increases Sky bid|date=11 July 2018|work=BBC News|access-date=11 July 2018|language=en-GB}}</ref><ref>{{Cite news|url=https://variety.com/2018/tv/news/takeover-body-hikes-price-disney-would-need-to-offer-for-sky-1202872637/|title=U.K. Takeover Body Hikes Price Disney Would Need to Offer for Sky|last=Clarke|first=Stewart|date=13 July 2018|work=Variety|access-date=13 July 2018|language=en-US}}</ref> On 19 July 2018, after Fox agreed to a Disney counter-offer,<ref>{{Cite news|url=https://arstechnica.com/tech-policy/2018/06/disney-outbids-comcast-in-escalating-bidding-war-for-21st-century-fox/|title=Sorry, Comcast: Fox and Disney sign new merger deal, rejecting Comcast bid|work=Ars Technica|access-date=20 June 2018|language=en-us}}</ref><ref>{{Cite news|url=https://www.nytimes.com/2018/06/20/business/dealbook/disney-comcast-21st-century-fox.html|title=Disney Ups Its Bid for 21st Century Fox to $71.3 Billion|work=The New York Times|date=20 June 2018 |access-date=20 June 2018|language=en |last1=Lee |first1=Edmund }}</ref> it was reported that Comcast had abandoned its bid for 21st Century Fox to focus solely on Sky.<ref>{{Cite news|url=https://www.bbc.com/news/business-44893625|title=Comcast likely to be new owner of Sky|date=19 July 2018|work=BBC News|access-date=21 July 2018|language=en-GB}}</ref><ref>{{Cite news|url=https://www.wsj.com/articles/comcast-drops-bid-for-fox-assets-will-pursue-sky-1532004447|title=Comcast Drops Bid for Fox Assets, Will Focus on Pursuit of Sky|last=Ramachandran|first=Shalini|date=19 July 2018|work=Wall Street Journal|access-date=21 July 2018|language=en-US|issn=0099-9660}}</ref>

On 20 September 2018, the [[Panel on Takeovers and Mergers]] ordered that a blind auction be held "in order to provide an orderly framework for the resolution of this competitive situation". In this process, Fox, followed by Comcast, made new cash-only bids for Sky. After these first two rounds of bidding, there would be a third round where both companies could make new offers. However, the third round of bidding would only be binding if both companies make a bid. The results were to be revealed on 22 September, and be confirmed by the start of trading on 24 September.<ref>{{Cite web|url=https://www.theguardian.com/business/2018/sep/20/sky-takeover-battle-fox-comcast-auction-regulator|title=Sky takeover battle must go to auction, orders regulator|last=Waterson|first=Jim|date=20 September 2018|website=the Guardian|language=en|access-date=20 September 2018}}</ref> Comcast won the auction with a bid of £17.28 per-share, beating Fox's bid of £15.67.<ref>{{Cite news|url=https://techcrunch.com/2018/09/22/comcast-outbids-fox-in-40b-battle-for-sky/|title=Comcast outbids Fox in $40B battle for Sky|last=Clark|first=Kate|date=22 September 2018|work=TechCrunch|access-date=22 September 2018|language=en-US}}</ref><ref>{{Cite news|url=https://www.bbc.com/news/business-45615441|title=Sky: Comcast outbids Fox with £30bn bid for broadcaster|date=22 September 2018|work=BBC News|access-date=22 September 2018|language=en-GB}}</ref> Sky plc had until 11 October to formally accept this offer.<ref name="variety-openmarket">{{Cite news|url=https://variety.com/2018/tv/global/comcast-buys-sky-shares-open-market-1202956344/|title=Comcast Buys Over 30% of Sky on Open Market, Seeks More Before Takeover Deadline|last=Clarke|first=Stewart|date=25 September 2018|work=Variety|access-date=27 September 2018|language=en-US}}</ref>

Following its auction victory, Comcast began to acquire Sky shares from the open market. On 26 September 2018, Fox subsequently announced its intent to sell all of its shares in Sky plc to Comcast for £12 billion.<ref>{{Cite web|url=https://www.theguardian.com/media/2018/sep/26/rupert-murdochs-sky-reign-to-end-as-fox-sells-all-shares-to-comcast|title=Rupert Murdoch's Sky reign to end as Fox sells all shares to Comcast|last=Waterson|first=Jim|date=26 September 2018|website=The Guardian|language=en|access-date=27 September 2018}}</ref><ref name="variety-openmarket"/> On 4 October 2018, Fox completed the sale of their shares, giving Comcast a 76.8% controlling stake at the time.<ref>{{Cite news|url=https://variety.com/2018/tv/news/comcast-closes-deal-for-foxs-sky-stake-owns-over-75-of-european-pay-tv-giant-1202973728/|title=Comcast Closes Deal for Fox's Sky Stake, Owns Over 75% of European Pay-TV Giant|last=Clarke|first=Stewart|date=9 October 2018|work=Variety|access-date=11 October 2018|language=en-US}}</ref>