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UK approves potential Fox, Comcast bids for Sky

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The UK government will allow 21st Century Fox to go through with its bid to acquire the 61% of the company it does not own, on condition that it sells Sky News. Matt Hancock, the secretary of state for culture, media and sport, announced the decision yesterday following a long running investigation by UK regulators which raised concerns over media plurality. The government also approved a rival bid by Comcast for Sky. The decisions pave the way for a bidding war between Fox and Comcast for ownership with Sky, with Walt Disney Co also likely to be involved.

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