Slaughters takes starring role for Disney on Sky News takeover bid
Instruction comes as Government says Sky News must be sold for 21st Century Fox's Sky takeover to proceed
June 07, 2018 at 08:43 AM
2 minute read
Slaughter and May has been called in to advise The Walt Disney Company on its bid for Sky News.
The future ownership of Sky News has been the subject of much speculation after Culture Secretary Matt Hancock blocked 21st Century Fox's takeover bid for Sky, on the grounds that it would give owner Rupert Murdoch too much influence over the media sphere.
21st Century Fox had previously agreed a £18.5bn deal to buy the remaining 61% of Sky it does not already own, but the the government said this week that Sky News would have to be sold ahead of any deal being approved.
Slaughters City corporate partner Richard Smith is leading the magic circle firm's team advising Disney. Slaughters declined to comment.
Allen & Overy is advising 21st Century Fox on the Sky bid, alongside US firms Skadden Arps Slate Meagher & Flom and Simpson Thacher & Bartlett, while Herbert Smith Freehills is advising Sky.
Earlier this year, Comcast – advised by Freshfields Bruckhaus Deringer and Davis Polk & Wardwell – put in a rival offer to acquire Sky for £22.1bn.
Macfarlanes and Cravath Swaine & Moore advised Disney last December when it announced it would purchase 21st Century Fox's entertainment assets for $52bn.
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