Government clears way for Fox's Sky bid

The Rt Hon Matt Hancock MP

The Rt Hon Matt Hancock MP

The Murdoch-controlled Fox has been attempting to address those concerns through a series of concessions, including selling Sky News to Disney once the deal is complete.

The Murdoch bid for full control of Sky will be allowed to go ahead if Sky News can be spun off and sold to Disney to protect its independence, the Government has ruled.

Regulators had been concerned that ownership of Sky News would give Rupert Murdoch and his family too much influence over United Kingdom media.

Hancock also announced that a £22 billion ($29 billion) bid for Sky from Comcast (CMCSA) would be allowed to proceed.

Murdoch launched his bid to buy all of Sky in December 2016, but the takeover has been held up by politicians and regulators who fear it will give the mogul too much influence in Britain. Fox's pursuit has been held up over worries that it would give Murdoch, who also owns United Kingdom newspapers, too much influence over British media.

Roseanne Barr ‘hiding out’ in Utah after Twitter controversy, show cancellation
But, a new spinoff centered on co-star Sara Gilbert's character Darlene Conner could be in the works, according to a TMZ report . In a statement this week, ABC executives said they would not order the production of season two of the " Roseanne " reboot.

However, US media giant Comcast waded into the bidding in February with a £22bn offer for Sky, trumping Fox's offer, which valued the broadcaster at £18.5bn.

However, he added that if it can't agree such terms that "the only effective remedy now would be to block the merger altogether".

Sky shares have been trading above both bids since Comcast made its offer as investors anticipate a renewed push with a higher price from one or both suitors. The stock rose 0.3 percent to 13.54 pounds at 3:30 p.m.in London on Tuesday.

"We now look forward to engaging with DCMS and we are confident that we will reach a final decision clearing our transaction", Fox said in a statement.

Separately, Disney has struck a deal to buy Fox's entertainment assets, including its stake in Sky.

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