21st Century Fox Gets Ireland Nod For Proposed Acquisition Of Sky - Quick Facts

(RTTNews) - 21st Century Fox Inc. (FOX, FOXA) said that the Republic of Ireland's Minister for Communications, Climate Action and Environment has cleared the company's acquisition of the outstanding shares of British satellite television network Sky Inc. (BSY.L, SKY.L) that Fox does not already own.

The Minister has ruled that the proposed transaction will not result in insufficient plurality for any audience in the Republic of Ireland. The decision was communicated to 21st Century Fox by the Department of Communications, Climate Action and Environment.

The decision follows rulings clearing the transaction on public interest grounds including plurality by authorities in all of the markets in which Sky operates outside of the UK, including Austria, Germany, Italy and now the Republic of Ireland.

The decision also follows unconditional clearance of the proposed transaction by all competent competition authorities, notably the European Commission on 7 April 2017, covering both the UK and the rest of the European Economic Area, as well as by the Jersey competition authority.

21st Century Fox noted that the UK Secretary of State for Culture, Media and Sport has confirmed that she has now received the reports from Ofcom and the CMA on the specified public interest grounds, media plurality and commitment to broadcasting standards.

The Department for Culture, Media and Sport has stated that the Secretary of State will make her initial "minded to" decision, publish the reports and return to Parliament to make an oral statement by 29 June.