Fox’s Sky takeover OK’d in Ireland

Rupert Murdoch’s 21st Century Fox has been cleared to move ahead with its proposed takeover of European media giant Sky by Ireland’s minister for communications, climate action and environment.

Rupert Murdoch

Sky agreed to sell the remaining 61% of its business not owned by Fox late last year and is now only awaiting a decision from UK media regulator Ofcom – expected this week – before it can proceed with the takeover.

Ireland’s Department for Communications, Climate Action and Environment greenlit the deal after finding that it would not result in insufficient media plurality in the country.

The takeover plan had already received the green light from the European Commission’s competition authorities, which said its market investigation had found the proposed transaction “would raise no competition concerns.”

The deal has also been given the green light to proceed by media regulators in Sky’s other European markets, including Germany, Austria and Italy.

Ofcom filed its report into the takeover earlier this month and the UK government’s Department for Culture, Media and Sport will reveal its initial decision by tomorrow.

The deal would hand Fox owner Murdoch full control of Sky, which is already the largest pay TV operation in Europe, as well as the UK newspapers that come under his News Corp outfit, including The Times, The Sunday Times and The Sun.

UK concerns revolve around a dilution of media plurality, but also whether Fox will maintain broadcasting standards and explore the company’s corporate governance standards.