Proposed Media Mergers

Michael Fabricant Excerpts

Tuesday 5th June 2018 Commons Chamber

[Matt Hancock]

I agree with the hon. Lady about the importance of Sky News and about making sure that it remains financially viable over the long term. I want to ensure that we can have confidence in that in the final undertakings that are given. Of course Sky News has an excellent record for broadcasting. I am talking about its formal broadcasting standards and, as every Member in this House knows, its ability sometimes to reach the news faster than anybody else. Its interviews with those of us in public office are probing and invigorating. We thoroughly enjoy the service and I want it to be viable for the long term.

[Michael Fabricant (Lichfield) (Con)]

My right hon. Friend is absolutely right to praise Sky and Sky News. He will recall that it opened in 1989 and almost bankrupted, through its costs, the Murdoch family. What concerns me and the shadow Front-Bench spokesman is the long-term viability of Sky News. Ten years is a long time, and we are seeing a changing atmosphere and environment in broadcasting. How can he be assured that, over a 10 year period—and I hope many more years after that—Sky News will survive?

[Matt Hancock]

We have been given encouraging assurances thus far— not only in the bid directly before us, but in other bids associated with this takeover—that there will be long-term undertakings on the financial viability of Sky. I want to ensure that the organisation is robust, and that Sky News continues to do the brilliant job that it does now. I know that others have raised concerns about broadcasting standards within companies owned or part-owned by the Murdoch family trust, but Sky is an example of a brilliant broadcaster with incredibly high broadcasting standards, on a par with the BBC, ITV and Channel 4. That is why ensuring its long-term viability has so much resonance in the House, and it is also the reason why it matters so much to me.