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(Sharecast News) - Lisa Nandy has officially issued a Public Interest Intervention Notice (PIIN) to ask Ofcom and the competition regulator to investigate the proposed Sky takeover of ITV, the culture secretary announced on Wednesday.
"My decision to issue a PIIN relates to concerns I have that public interest considerations specified in section 58 of the Enterprise Act 2002 may be relevant to the anticipated merger and that these considerations warrant further investigation," the culture secretary said.
Nandy revealed in October that she was "minded to intervene" in Sky's proposed takeover of ITV's media and entertainment activities,
The deal, agreed in July, will see Sky take over ITV Media & Entertainment for £1.6bn and includes a £2.1bn content agreement with ITV Studios.
However, public interest concerns raised include the free expression of opinion in news media and the potential for reduced variety within the news sector.
Nandy has also said that possible legislation of streaming will be required to bring the industry "in line with modern viewing habits and my specific concerns regarding this merger".
Ofcom and the Competition and Markets Authority now have until 27 January to report on their findings.
"Following these reports, I will need to decide whether to refer the matter for a more detailed investigation by the CMA under section 45 of the Act," Nandy said in a statement.
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