Publication Date: January 23, 2018
We provide our thoughts on Sky / Fox since the CMA’s recent decision will impact the deal. What we found in the possible remedies document is the addition of Disney as a catalyst to get through UK regulators. CMA statements point to a rather simple solution for Fox to get the deal completed: offer all the structural and/or behavioural commitments requested, then agree with the Secretary of State (SoS) that if Disney / Fox completes, these remedies will fall away (again, since the Disney owning Sky weakens the link between the Murdoch’s and Sky). The CMA spells out this possibility and refers to it as an ‘event-based’ sunset clause.
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