Sky strikes legally binding deal with Comcast Corporation for future of Sky News.
“We have invested in Sky News since it launched nearly thirty years ago and we are delighted that Comcast has joined us in extending its commitments, which will secure the future of Sky News for the next ten years.” – Jeremy Darroch, Group CEO of Sky
The legal guarantee will protect the future operation and long term funding of an editorially independent Sky News.
The commitments extend the Post Offer Undertakings given by Sky and Comcast in May 2018 in which they committed to maintaining inflation-adjusted funding in Sky News, to maintain Sky’s HQ in Osterley and not to acquire a UK newspaper, for a period of 5 years, as well as to establish the Sky News Board within 3 months of October 2018.
This week’s commitments, given by way of Deed Poll, Sky and Comcast have extended their deal to maintain Sky News funding to 10 years. They have also established the Sky News Board, with oversight of the continued editorial independence of Sky News, Sky News’ compliance with the Sky News Editorial Guidelines, and the long term funding commitment.
Sky and Comcast will also maintain and observe the news channel’s Editorial Guidelines and have made a number of enhancements to them to further preserve the editorial independence of the service including that the Head of Sky News is to retain complete editorial control over all news output, and instructions to editorial staff are to come only from the Head of Sky News and his authorised delegates and any attempts to influence the selection or running of news stories or the political comment and opinion to be broadcast on Sky News, are to be escalated by the Head of Sky News, to the Sky News Board.
“Sky’s belief in Sky News has enabled us to build an outstanding record of world class reporting. This long-term funding commitment ensures that we can continue to invest in quality journalism and strengthen our position as an independent, trusted news source.” – John Ryley, Head of Sky News