The UK's Secretary of State for Digital, Culture, Media and Sport, Matt Hancock, said that he will come to a final decision on the potential merger between Sky and 21st Century Inc before June 13.
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Hancock has received the Competition & Markets Authority's final report and told parliament he will report back to them on his decision in the next 30 working days.
He said his decision will be on "whether the merger operates or may be expected to operate against the public interest, taking into account the specified public interest considerations of media plurality and genuine commitment to broadcasting standards".
Last Wednesday, Sky's independent board committee welcomed a rival $22.0 billion offer from US cable television company Comcast Corp.
Comcast announced a 1,250.00 pence per share cash offer for the UK pay-TV operator, which represents a premium of 16% to Fox's offer of 1,075.00p per share.
As a result of the offer made my Comcast, Sky's independent committee has withdrawn its recommendation of Twenty First Century Fox's offer and will terminate the co-operation agreement entered with it.
Comcast said the acquisition of Sky will allow it to combine the content production capacity and programming spend to be able to compete in a more competitive landscape, as well as increase Comcast's presence in the UK and Continental Europe.
Comcast expects the acquisition, if completed, to generate annual run-rate cost synergies of $500 million.
The US company also has entered certain commitments involved in the acquisition, which includes not acquiring a major interest in any UK newspaper for five years after the acquisition, establish an editorial board for Sky News, maintain its headquarters in Osterley, London, and allow a member of the Sky Group to have ownership over all assets and rights to carry on a Sky-branded news service.
The acquisition is conditional on Sky shareholder approval, in particular no less than 50%, and consent from various antitrust and regulatory bodies.
Comcast expects the acquisition to be completed before the end of 2018.
In response, Fox said it remains committed to its cash offer for Sky and is currently considering its options. ■