US cable giant Comcast has placed a £22.1bn bid for the UK-based company Sky, which 21st Century Fox (owned by Murdoch, the Magnificent Media Mogul) has had its eyes on for a while.
What it means: Rupert Murdoch literally owns most of the media. 21st Century Fox owns 39 per cent of Sky already, and is trying to buy the other 61 per cent. It's not gone down well in the UK – something called the Competition and Markets Authority (CMA), an organisation which tries to make sure business is fair and isn't dominated by one company (ahem, Fox) in a so-called
, was concerned that if the deal went through, the Murdoch Family Trust would have too much influence over public opinion and the political agenda.
They'll be pleased to see there's now another player in the game – in economics, there's a common idea that monopolies are generally not great for producing the best products because they basically eliminate all competition. Enter Comcast.
It’s not just about what you do, it’s where you do it. Workplaces can create and cut jobs, borrow money and interact with the financial market, and buy and sell products from other workplaces, affecting their financial situations. There’s also the question of whether our workplaces should be taking care of us, or whether that’s the government’s job…