Latest Fox Bombshell Drops Into Sky Deal Review at Crucial Time
The U.K.’s Competition and Markets Authority is looking into issues of corporate culture at Murdoch’s 21st Century Fox Inc. as part of its review of the New York-based company’s 11.7 billion-pound ($15.4 billion) bid for the rest of Sky. “It raises yet more questions about the corporate culture at 21st Century Fox,” Watson said. The January settlement “was discussed with Ofcom and this is also reflected in their final decision,” Fox said in a statement Monday to Bloomberg News. Nevertheless, Ofcom said that James and Lachlan Murdoch had revised Fox’s corporate governance arrangements and Ofcom didn’t believe that future such cases wouldn’t be investigated and resolved appropriately at Sky.