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Sky News Faces Closure Unless Deal With Fox Goes Through.

Sky has threatened to shut down Sky News if the news channel proves to be an obstacle in Rupert Murdoch’s 21st Century Fox bid.

The deal is being delayed due to fear the Rupert Murdoch’s media empire could become too large and powerful. Sky told the Competition and Markets Authority (CMA) that the regulator should not assume “the continued provision” of Sky News.

BBC media editor Amol Rajan said it was a “credible threat”.

Fox owns 39% of Sky but wants full control of the satellite broadcaster.

Media editor Mr Rajan said that Sky News lost “an awful lot of money”.

“It loses tens of millions of pounds, and I think the independent directors of Sky are sending a very clear message… that if they had to choose, maybe they’d prefer for commercial reasons to do the deal with 21st Century Fox rather than continue to fund the losses at Sky News.”

The infograph below show the Murdoch’s media interests:

“Inevitably this will be perceived by those who are already hostile to the proposed takeover, particularly in the political arena, as sabre rattling and as a perceived threat by the company” said Joey Jones, a political correspondent at Sky News for 16 years and now head of public affairs at PR firm Weber Shandwick.

Sky News will not face closure immediately, the company would try to find another buyer before that eventuality.

 

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