21st Century Fox Faces a Showdown with British Regulators

Rupert Murdoch’s legacy as a media mogul will be tested on June 20 when British regulators report to the government whether 21st Century Fox should be allowed to buy the rest of Sky, the British satellite giant. Murdoch has long dreamed of adding Sky to his array of global media assets. His media conglomerate, 21st Century Fox, already owns a 39 percent stake in the British satellite provider that also has divisions in Italy, Germany and elsewhere in Europe, and had proposed taking over Sky in 2010, but that effort was abandoned amid a telephone hacking scandal.

As part of their review, British regulators are scrutinizing whether 21st Century Fox meets the country’s broadcasting standards and whether the $14.9 billion takeover would unfairly hamper the British media landscape. They are also evaluating whether 21st Century Fox executives are “fit and proper” to retain broadcasting licenses in the United Kingdom. The details of the review are not expected to be made public on June 20.