21st Century Fox continues to work towards trying to acquire Sky News (DStv 402) and is offering up more guarantees to try and secure backing for its takeover of Britain's pay-TV operator Sky, including "firewall" guarantees and saying that it would continue to keep the loss-making Sky News on the air for at least 5 years after a takeover.
Britain's competition regulator in January ruled that Fox' plan to buy the 61% of Sky that it doesn't yet own, should be blocked and prevented.
Interestingly Sky has told the regulator that if it blocks the Fox deal, Sky might shut down Sky News completely because it's loss-making anyway and no longer an important part of Sky's future going forward.
"The combined effect of the Proposed Firewall Remedies is that there could be no circumstances in which, post-transaction, the MFT (Murdoch family trust) or members of the Murdoch family could influence, whether directly or indirectly, the editorial line or policy of Sky News," says 21st Century Fox.
It suggested the possibility of creating a fully independent board to oversee Sky News, including the appointment of the head of Sky News who would be"sole responsibility for setting editorial strategy and direction for Sky News’ digital, television and radio output, including the appointment and dismissal of senior Sky News employees".
Fox also promised that it would keep the loss-making Sky News around for at least 5 years if it took over Sky, and keep investing in it.
Fox says "no Fox employee or member of the board would "influence or attempt to influence" editorial choices at Sky News.
