Britain's culture secretary threw 21st Century Fox's bid for satellite broadcaster Sky a lifeline Tuesday, saying he will approve the deal if the company takes steps to ensure that Sky's news channel remains financially viable and independent for the long term.
In a statement to lawmakers, Matt Hancock said he agreed with competition regulators that Fox's proposal to sell Sky News is the best way to address public interest concerns. But the culture minister said he needs further guarantees that the channel will remain a "major U.K.-based news provider" before he allows the takeover to go forward.
Hancock said his officials would begin immediate discussions with Fox.
"I am optimistic that we can achieve this goal, not least given the willingness 21st Century Fox has shown in developing these credible proposals," he said.
Fox's effort to acquire the 61 percent of Sky it doesn't already own has been held up by concerns that the More