21st Century Fox will stop broadcasting Fox News in the U.K.
21st Century Fox Inc. FOXA, +0.60% FOX, +0.37% on Tuesday said it's decided to stop broadcasting its cable news channel Fox News in the U.K. The company said that after 15 years of airing a feed of the channel on a network owned by European broadcaster Sky PLC SKYAY, -0.36% the service wasn't making money for the company. "[21st Century Fox] has decided to cease providing a feed of Fox News Channel in the U.K.," the company wrote in a statement.
"Fox News is focused on the U.S. market and is designed for a U.S. audience and, accordingly, it averages only a few thousand viewers across the day in the U.K. We have concluded that it is not in our commercial interest to continue providing Fox News in the U.K."
Fox News-parent 21st Century Fox and MarketWatch-parent News Corp. share common ownership. The decision to remove the channel in the UK comes as Fox awaits a regulatory decision on its $15 billion takeover bid for the 61% of Sky it doesn't own. Sources reportedly told the newspaper the Guardian that the Fox News termination was not related to the regulatory matter. Shares of Fox have declined about 3% in 2017, while the S&P 500 index SPX, +0.63% is up 9%.
http://www.marketwatch.com/story/21...op-broadcasting-fox-news-in-the-uk-2017-08-29
