Apparently it's losing tens of millions p.a. Those 'journo scum' aren't cheap you know. My reckoning is that's entirely disposable and adds little value to the Sky/Fox portfolio. He's always been more concerned about the bottom line rather than vanity projects.
However the question would then be: would Fox News replace Sky News in the schedules.
More money? Government approval of his take-over bid? Oh, wait - that's basically "more money" too...
It smacks of an O'Leary-esque stunt to grab free publicity - like announcing that passengers will have to pay a quid a time to use the gopping excuses for lavatories on his aircraft. Oh, look - Ryanscare's being mentioned over and over again on the airwaves for days on end. Again.