The offices of Fox News’ parent company just got raided in London by European authorities.
Officials from the European Commission raided Fox Networks, which controls the company’s “channels” business for Rupert Murdoch, the founder of News Corp and the dreaded propaganda stream from Fox News in the USA.
Fox is trying to buy the UK-based Sky, a satellite television provider serving 21 million homes in the EU. Murdoch’s chances are sinking now that regulators have descended on their West London offices, without plans to leave anytime soon. The Telegraph reports:
“The European Commission has powers to raid businesses suspected of abusing their dominance of a market or being involved in a price fixing cartel. Investigators are able to take copies of documents and computer records, and ask for explanations from executives.”
“It is understood that investigators are expected to remain on site through Wednesday and possibly into Thursday.”
Murdoch’s company just recently submitted a plan to acquire the 61% share of Sky that it doesn’t yet own.
Part of Fox’s plan to buy out the satellite television provider – and move from a news and entertainment company into the business of being a platform provider – is to immediately sell SkyNews to Disney, since even Rupert Murdoch admits that he shouldn’t be trusted with any more of the UK’s media market share than he already holds.
In fact, the long-delayed Sky transaction is generally considered Murdoch’s underlying reason for concocting a $52 billion mega-deal to sell Fox‘s US entertainment properties to Disney in the first place.
America’s largest cable company Comcast entered late into the bidding to take over the Sky satellite TV network.
Nobody knows exactly why the EC’s investigators raided Murdoch’s Fox Networks but based on his long-standing links to Republicans and Brexit, regulators have precious few reasons to trust the Australian media magnate.
In the meantime, Fox Networks will be picked over by regulators against their will for at least the next couple of days.
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