>> Rupert, Out. Rupert, No.>> A decision that could delight his critics for now. Rupert Murdoch's empire doesn't look like it will be expanding just yet. The British government ruling on Thursday that the billionaire media magnate's bid to takeover Sky needs further examination. His 21st Century Fox has offered 14.8 billion dollars for the 61% of Sky it does not already own.
But Britain's media minister Karen Bradley told Parliament on Thursday that regulators raised concerns the take-over could give the Australian-born businessman's family trust too much control over the British media.>> This potentially raises public interest concerns because in Ofcom's view, the transaction may increase members of the Murdoch family trust's ability to influence the overall news agenda and their ability to influence the political process.
And it may also result in the perception of increased influence.>> As of 6 PM in London, satellite broadcasting hit the airwaves in the UK and Ireland.>> The Murdoch family has long-coveted full ownership of Sky, which it launched to great fanfare in 1989.>> And he says he has the cashflow to see it through.
>> But a previous attempt to take control failed after Murdoch's British newspaper business became embroiled in a scandal over phone hacking.>> This is the most humble day of my life.>> A subsequent public inquiry exposed closed ties between Murdoch and leading British politicians. That's why for this bit the UK government asked independent regulators, Ofcom, to assess its impact.
Ofcom examined whether the deal would give Fox too much control of the media and whether it would be committed to upholding broadcasting standards if it went ahead. It also examined the corporate culture at Fox. Ofcom said behaviors recently alleged that Fox News in the US, amount to significant corporate failures.
Sky's shares up to 3% on the announcement and a final decision will be made in July. But for the time being, Sky remains beyond the limit for Rupert Murdoch.