British Regulator Ofcom Rebukes Fox News Over Bias
Sky Plc (SKYAY) shares extended declines Tuesday as investors reacted to a stinging rebuke from British regulators over bias in Rupert Murdoch-owned Fox News and speculation that some of his U.S. operations could be sold to Disney Corp (DIS) - Get Report .
Ofcom, Britain's communications watchdog, said late Monday that two of Twenty-First Century Fox Inc.'s (FOXA) - Get Report flagship programs -- Hannity and Tucker Carlson Tonight -- violated U.K. broadcasting standards by failing to provide appropriate balance and alternative viewpoints on issues linked to President Donald Trump's travel ban and the Manchester terror attacks.
Fox News ceased broadcasting in the U.K. earlier this year, and no longer has a licence with Ofom, but the ruling could have implications for Fox's attempt to purchase the near 60% of Sky that it doesn't already own in a $15.3 billion deal that is currently under review by Britain's Competition and Markets Authority.
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