Disney bids for Sky News to aid Murdoch's Sky takeover

By Ovunc Kutlu

NEW YORK (AA) - Walt Disney is making a bid to buy Sky News that would help Rupert Murdoch’s 21st Century Fox attempted takeover of Sky that was blocked by the U.K. regulators, according to a document submitted Tuesday to British regulator.

"The Walt Disney Company has expressed an interest in acquiring Sky News, with a view to adding it to Disney's existing portfolio of television channels," said 21st Century Fox's document submitted to the U.K.'s Competition and Markets Authority (CMA).

The CMA in January, rejected 21st Century Fox's attempt to takeover Sky, citing that the £11.7 billion ($16.5 billion) deal would give Murdoch "too much control over news providers across all media platforms, and as a result too much influence over public opinion and the political agenda."

Twenty-First Century Fox also proposed in the document to establish Sky News as a distinct company within the Sky Group with its own fully independent board, and Sky News would operate independently with guaranteed funding from 21st Century Fox for 15 years.

CMA could still find regulatory obstacles in the deal because The Walt Disney Company announced in December that it would acquire 21st Century Fox in a landmark deal worth $52.4 billion.

Disney, however, would still be interested to acquire Sky News "whether or not Disney's proposed acquisition of 21st Century Fox proceeds," according to the document.