UK Gives Final Approval to Fox/Sky as Comcast Ups Bid
With no regulatory problems regarding Fox's proposed buy of Sky, "it is now a matter for the Sky shareholders to decide whether to accept [Fox's] bid," U.K. Secretary of State-Digital, Culture, Media Jeremy Wright said Thursday, approving the deal a…
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day after Comcast made a new offer for Sky. Wright said he agrees with the previous culture secretary of state, whom he replaced this week, that the deal doesn't raise public interest concerns (see 1806050003). Comcast Wednesday said it increased its cash offer to 14.75 British pounds ($19.48) per share, topping the 14 pounds offer Fox made earlier this week (see 1807110031). Comcast said Sky's independent committee was recommending its bid and Sky is "an outstanding company and a great fit." It said it already received regulatory approvals for a Sky deal from the EU, Austria, Germany, Italy and Jersey, and it expects to close on Sky by October. Fox didn't comment Thursday. Senate Consumer Protection Subcommittee ranking member Richard Blumenthal, D-Conn., and three other senators urged the DOJ Antitrust Division Wednesday to review Comcast's bid for much of Fox (see 1807120049).