UK regulators approve Fox's bid for Sky, if it dumps Sky News

Photo by Daniel Leal-Olivas/AFP/Getty Images

U.K. regulators are inclined to allow 21st Century Fox's pursuit of majority ownership Sky UK — so long as it agrees to divest Sky News — Minister for Digital, Culture, Media and Sport, Matthew Hancock announced Tuesday.

Why it matters: It's taken regulators over a year to come to this decision, but now that they've made it, Fox has some clarity over whether it will be able to next fend off Comcast's rival bid for the property.