21st Century Fox, led by executive chairman Rupert Murdoch, has agreed to sell its 39% stake in Sky for £11.6bn ($15.2bn), after telecommunications giant Comcast won the battle to takeover Sky with a bid totalling £29.7bn in an auction overseen by the Takeover Panel. The deal will see Fox take control of Sky, which is owned by News Corp and Liberty Global, as well as other assets including film studio 20th Century Fox. The purchase will mark the biggest ever takeover in Europe's media industry.
21st Century Fox, led by executive chairman Rupert Murdoch, has agreed to sell its 39% stake in Sky for £11.6bn ($15.2bn), after telecommunications giant Comcast won the battle to takeover Sky with a bid totalling £29.7bn in an auction overseen by the Takeover Panel. Comcast's offer of £17.28 a share was £1.61 ahead of 21st Century Fox's, who previously took over Sky in 2016 but were in turn bought by Disney for $52.4bn in 2017. The purchase will mark the biggest ever takeover in Europe's media industry.