Rupert Murdoch's 21st Century Fox has said it would sell off Sky News to Disney or ring-fence it to try to allay regulatory concerns over its proposed acquisition of Sky.
But it faces regulatory problems after the Competition and Markets Authority found the £11.7bn deal was not in the public interest.
Fox had already pledged to ensure the independence of Sky News.
The Murdoch family's news outlets are currently consumed by nearly a third of the UK's population across TV, radio, online and newspapers.
The Murdoch Family Trust controls News Corporation, which publishes newspapers including the Sun, the Times and the Sunday Times.
Sky was one of the top gainers on the FTSE 100 in morning trading on Tuesday, with shares up about 1%.