Collection

Proposed merger between Twenty-First Century Fox, Inc. and Sky plc

Documents, publications and updates relating to the proposed merger between Twenty-First Century Fox, Inc. and Sky plc

On 9 December 2016, Sky Plc announced that it had received an approach from 21st Century Fox to acquire the 61% share of Sky Plc which it does not already own.

On 16 March 2017, the Secretary of State (Karen Bradley) confirmed in a statement to Parliament, that she would be intervening in the proposed merger under the Enterprise Act 2002, so that issues raised under the two specified public interest grounds mentioned in her Intervention Notice - namely the effect of the merger on media plurality and on the parties’ commitment to broadcasting standards could be fully considered. Her Intervention Notice required Ofcom to submit a Phase 1 report on the public interest considerations raised by the Secretary of State.

Ofcom’s Phase 1 report was received on 20 June 2017 and published by DCMS on 29 June. The Secretary of State (Karen Bradley) carefully considered the Phase 1 report from Ofcom and representations from the parties to the merger and third parties.

Following this, the Secretary of State (Karen Bradley) confirmed in a Statement to Parliament on 29 June that she was minded-to refer the merger for a further more detailed Phase 2 investigation by the Competition and Markets Authority (CMA) on media plurality grounds only. After careful consideration of representations received and having considered further advice from Ofcom, she announced on 14 September that she had reached a final decision to refer on both grounds and issued her formal referral to the CMA for the Phase 2 investigation on 20 September 2017.

From the point of referral, the CMA initially had 24 weeks to investigate the merger and provide advice to the Secretary of State . On 23 January, alongside publishing its provisional findings report on the media public interests, the CMA confirmed it would be extending the deadline for the Phase 2 report by eight weeks to 1 May. The Secretary of State (Matt Hancock) received the CMA’s final Phase 2 report on 1 May. He published this on 4 June, announcing that he accepted the CMA’s recommendations on the public interest grounds and outlining the process for consideration of potential remedies.

On 12 July, the Secretary of State (Jeremy Wright), announced the conclusions a statutory consultation on proposed undertakings by 21st Century Fox and The Walt Disney Company to divest Sky News to Disney. His Statement set out decision made by his predecessor (Matt Hancock) on 9 July to accept the undertakings with some clarificatory change to Disney’s undertakings and changes to the brand licensing agreement to address issues raised by respondents.

A notice of acceptance of final undertakings has also been published on 12 July 2018 along with the final undertakings from 21st Century Fox and Disney and a number of associated documents The publication of the undertakings marked the final stage of the public interest consideration of this case.

Documents

  1. Written Ministerial Statement: Media Matters
  2. Sky Fox Merger - Proposed Undertakings - by 21st Century Fox, Inc and the Walt Disney Company
  3. Statement on the proposed merger between Sky plc / 21st Century Fox Inc
  4. Public Interest Intervention Notice
  5. CMA Phase 2 Report
  6. Update: Media Mergers
  7. Update on process - Fox-Sky merger
  8. Sky/Fox Merger - CMA Provisional Findings
  9. Update on the Culture Secretary's consideration of the proposed merger between 21st Century Fox Inc. and Sky Plc.
  10. Final decision to refer letter to the parties
  11. 21st Century Fox / Sky plc Terms of Reference
  12. Letter from DCMS to CMA - 20 September
  13. Statement from the Culture Secretary on proposed Sky plc / 21st Century Fox Inc. merger
  14. Letter from DCMS to 21st Century Fox & Sky PLC - 12 September
  15. Ofcom letter to DCMS - 4 September
  16. DCMS letter to Ofcom - 31 August
  17. Ofcom letter to DCMS - 25 August
  18. DCMS letter to Ofcom - 7 August
  19. Referral Decision - Substantive Representations
  20. Statement from the Culture Secretary on the proposed Sky plc / 21st Century Fox Inc. merger
  21. Update on the Culture Secretary's consideration of the proposed merger between 21st Century Fox Inc. and Sky Plc.
  22. Update on the Secretary of State’s consideration of the proposed merger between 21st Century Fox Inc. and Sky Plc.
  23. Process update on the Secretary of State’s consideration of the proposed merger between 21st Century Fox Inc. and Sky Plc.
  24. Pre-recess update on proposed Sky/Fox takeover
  25. Letter to Sky/Fox merger parties
  26. Undertakings in Lieu given by 21st Century Fox, Inc.
  27. Invitation for representations relating to the proposed merger between 21st Century Fox, Inc. and Sky plc
  28. CMA report on the Sky/Fox merger
  29. Public interest test for the proposed acquisition of Sky plc by 21st Century Fox, Inc
  30. Sky/Fox Merger
  31. Statement on the proposed Sky plc / 21st Century Fox Inc. merger
  32. Statement on the proposed Sky plc / 21st Century Fox Inc. merger
  33. Sky/Fox merger - substantive representations
  34. Sky / Fox Merger
  35. DCMS Letter to Sky Fox - Formal Extension Notification
  36. DCMS letter to Ofcom - Formal Extension Notification
  37. DCMS letter to CMA - Formal Extension Notification
  38. Statement on the Sky / Fox merger media public interest consideration process
  39. Annotated European Intervention Notice
  40. DCMS Letter to Sky Fox EIN
  41. DCMS Letter to CMA EIN
  42. DCMS Letter to Ofcom EIN
  43. Statement from Culture Secretary: Sky/21st Century Fox merger
  44. European Intervention Notice
  45. Ofcom Sky 21CF breaches
  46. Statement in response to the formal notification of the proposed merger between Sky and 21st Century Fox
  47. 'Minded to issue an EIN' letter
  48. Sky: 21st Century Fox Takeover Bid - answer to urgent question 20 Dec 2016
  49. Sky: 21st Century Fox Takeover Bid - answer to urgent question 12 Dec 2016
  50. Enterprise Act 2002: Public interest intervention in media mergers
Published 3 March 2017