Fox pledges Sky News' editorial independence

The US media giant agreed to buy the remaining stake in Sky in 2016, but has been unable to complete the deal thus far, with regulators concerned over too much media control being in the hands of one company.

It told the Competition & Markets Authority that it would set up an independent board charged with outlining the media organisation's editorial strategy and direction.

Rupert Murdoch's Twenty-First Century Fox said it would commit to maintain Sky News in Britain for at least five years and would establish an independent board for the channel to try to secure its takeover of pay-TV operator Sky.

This comes as Fox has spent over a year attempting to buy the 61% in Sky, which is controlled by the Murdoch Family Trust, which also controls News Corporation, the publisher of British newspapers including The Sun and The Times, that it does not now own.

The CMA in January put forward three broad possible solutions to its concerns: insulating Sky News from Fox's influence, spinning off or divesting Sky News, or blocking the deal outright.

21st Century Fox's latest bid to buy up the 61% of Sky it doesn't already own was launched more than a year ago.

Last month the CMA proposed for Sky News to become a separate PLC with an independent board of directors.

If the deal proceeds as planned, the Murdoch family would control Fox and News Corp, the Sun and the Times newspapers in the UK.

The UK regulator, according to the BBC, is due to present its final report to Culture Secretary Matt Hancock by 1 May.

The CMA still have to publish a final report to the government imposed deadline of May 1st.

Working under the assumption that the CMA does not change its mind, the conglomerate said its "proposed firewall remedies represent a comprehensive and clear cut solution that directly addresses the origin of the CMA's adverse provisional findings".

However, an ongoing tussle over the deal has the potential to complicate Walt Disney's $US66 billion ($A92 billion) takeover of 21st Century Fox's entertainment assets, including Sky. Opponents of the deal also contend that the Murdochs and Fox, in light of sexual and racial harassment scandals at Fox News in the US, would not be suitable owners of Sky, though this argument has been rejected by regulators.