Reuters sources: Fox takeover of Sky cleared by EU regulators

Competition authorities in Brussels have reportedly given the go ahead for Twenty-First Century Fox to acquire full control of Sky plc (Frankfurt: 893517 - news) , the owner of Sky News.

The deal, which was agreed last December, has also been referred to UK regulator Ofcom by Karen Bradley, the Secretary of State for Culture, Media and Sport.

Fox, the world's fourth largest entertainment company and the maker of hit TV shows such as The Simpsons and Modern Family, already owns 39.1% of Sky.

Reuters sources have said the bid, worth £11.7bn, will win unconditional approval from antitrust officials in Europe. The EU decision is expected to be officially published on Friday.

A green light from the European Commission is expected as they were happy to clear the deal in 2010 when News Corporation (Frankfurt: A1W048 - news) , the then-owner of Fox, attempted to take full control of Sky.

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