Murdoch’s Fox seeks to win bid approval by extending Sky News guarantee

The takeover is being closely watched in the US where Murdoch has agreed to sell a string of assets to the Walt Disney company, including Sky, for $52.4 billion. (Reuters)
Updated 20 February 2018

Murdoch’s Fox seeks to win bid approval by extending Sky News guarantee

LONDON: Rupert Murdoch’s Twenty-First Century Fox has strengthened its offer to protect the independence of Sky’s loss-making news channel to try to overcome regulatory concerns about Fox’s takeover of the parent company.
Britain’s competition regulator has said Fox’s $15.7 billion deal to buy the 61 percent of Sky it does not already own should be blocked unless a way is found to reduce the influence Murdoch could wield through the ownership of Sky News.
The objections marked the latest twist in Murdoch’s eight-year battle to take control of Europe’s leading pay-TV company, forcing Fox to come back with more and more concessions to try to allay concerns about the deal and win regulatory approval.
The takeover is being closely watched in the US where Murdoch has agreed to sell a string of assets to the Walt Disney company, including Sky, for $52.4 billion.
Last week, Fox pledged to maintain and fund a fully independent Sky-branded news service for five years, and on Tuesday it upped this offer to run for 10 years.
It had already proposed to establish a fully independent board to oversee the 24-hour news network, including the appointment of its head, who will have sole responsibility for editorial strategy and staffing.
It said on Tuesday the Sky News board would now be required to prepare an annual statement confirming it had not come under any influence or attempted influence in the way it creates its editorial output.
“21CF (Fox) is willing to offer the revised undertakings” to address the objections raised by the regulator, Fox’s lawyers Allen & Overy said in a letter to the Competition and Markets Authority.


Netflix, Apple cross swords in Indian streaming market

Updated 12 September 2019

Netflix, Apple cross swords in Indian streaming market

  • Netflix launched in India in 2016 and two of its Indian-made series have won critical acclaim — “Sacred Games” and “Leila”
  • US technology giant Apple on Wednesday announced the launch of its streaming platform Apple TV+ in India, hoping to upend competition

MUMBAI: Competition in India’s booming streaming market is heating up as Netflix joins forces with a director of Bollywood feel-good blockbusters and Apple launches its TV platform for 99 rupees ($1.39) a month.
Netflix announced late Wednesday a long-term partnership with Karan Johar’s Dharmatic Entertainment to make a range of new fiction and non-fiction series and films for the platform.
Johar has directed eight films including “Kuch Kuch Hota Hai” with Bollywood megastar Shah Rukh Khan, and “Raazi,” nominated for best picture at next week’s Indian International Film Academy (IIFA) Awards, dubbed the Bollywood Oscars.
“It’s going to be P.H.A.T — pretty hot and tempting,” said Johar, whose Dharma Entertainment is one of India’s biggest production firms and which already teamed up with Netflix for the successful “Lust Stories” anthology.
Netflix launched in India in 2016 and two of its Indian-made series have won critical acclaim — “Sacred Games” starring Saif Ali Khan and Nawazuddin Siddiqui, and “Leila” with Huma Qureishi.
But Netflix faces stiff competition in Asia’s third-largest economy as Amazon’s Prime Video, Disney’s Hotstar, Alt Balaji and other local platforms jostle for digital subscriptions and eyeballs.
US technology giant Apple on Wednesday announced the launch of its streaming platform Apple TV+ in India, hoping to upend competition.
Netflix is available in India from 199 rupees a month and as millions of first-time users access Internet in Asia’s third-largest economy, analysts expect competition to intensify.
India’s video-streaming industry is expected to grow at nearly 22 percent per annum to 119 billion rupees ($1.7 billion) by 2023 according to consultancy PwC, Bloomberg News reported.
Netflix chief Reed Hastings has said the company’s goal is 100 million customers in India — almost 25 times its estimated subscriber base there as of this year, Bloomberg said.