“ Comcast to gain 100% share in Sky “

BBC



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.

Earlier this year, Fox had seemed likely to win control of the 61% of Sky it did not already own until Comcast stepped in with a rival bid.

In July, Fox raised its offer to £24.5bn, but it was then trumped by a £26bn bid from the NBC owner.

Comcast ultimately offered a further £4bn in the auction to ensure it emerged victorious in the battle for Sky, one of the Europe's most profitable media companies.

BBC



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.

Earlier this year, Fox had seemed likely to win control of the 61% of Sky it did not already own until Comcast stepped in with a rival bid.

In July, Fox raised its offer to £24.5bn, but it was then trumped by a £26bn bid from the NBC owner.

Comcast ultimately offered a further £4bn in the auction to ensure it emerged victorious in the battle for Sky, one of the Europe's most profitable media companies.

Expect a price increase, they are not in for fun !!!