It’s been a year since we first heard of News Corp’s interest in outright buying Sky News, and after so many false starts, we’d almost forgotten about it.
But it is happening, Sydney media sources say. In fact, we understand negotiations are nearly concluded. Confirmation is likely to filter through to the Media section of The Australian, so keep an eye on that.
Any deal would mean News Corp tightening its control over the pay TV industry in this country. It already controls Fox Sports, which supplies the most valuable programming to Foxtel (Foxtel is 50% owned by News, which also has the right to appoint the management of Foxtel). News Corp also owns nearly 15% of the Ten Network, as well as over 60% of the daily newspapers in Australia, and is awaiting regulatory approval for the purchase of APN’s regional dailies and weeklies and free papers in northern NSW and regional Queensland.