Wednesday, 26 September 2018

Rupert Murdoch's 21st Century Fox ends Sky association with Comcast stake sale

Rupert Murdoch's 21st Century Fox will sell its 39% stake in Sky to Comcast, ending the media mogul's association with the satellite broadcaster after almost three decades.

It had been unclear whether Fox would retain its stake in Sky after Comcast won a £30bn bidding war for the satellite broadcaster on Saturday.

Fox has now decided to accept Comcast's £17.28 a share offer, which values the Sky stake at £11.6bn.

Fox had sought control of Sky itself.

However, it lost out after bidding just £15.67 a share in the auction conducted by the UK Takeover Panel - a rare event in UK deal-making.

BBC     News.

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