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Murdochs warn UK a delay to Sky-Fox deal could hit wider inward investment

MURDOCHS WARN UK A DELAY TO SKY-FOX DEAL COULD HIT WIDER INWARD INVESTMENT

James and Lachlan Murdoch warned the British government on Wednesday a delay to their planned acquisition of pay-TV group Sky could sour the broader climate for foreign investment in the country after Brexit.

The Murdoch's Twenty-First Century Fox was dealt a blow last month when Britain's media secretary, Karen Bradley, said she was persuaded that the deal could give the Murdochs too much influence over the media, after regulator Ofcom assessed the impact of the transaction.

Bradley said she was minded to refer the deal for a lengthy investigation, but has not yet announced her final decision.

"While we await the outcome of the regulatory process, important investment decisions will inevitably need to be deferred," the two sons of Rupert Murdoch said in a letter to Bradley.

"There is also the broader risk of a potential harmful effect on other companies' inward investment decisions currently under consideration in the UK."

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