Sep 26, 2018

Rupert Murdoch ends Sky control with Comcast stake sale

Rupert Murdoch's 21st Century Fox will sell its 39% stake in Sky to Comcast, ending the media mogul's control of the satellite broadcaster after almost three decades. It had been unclear whether Mr Murdoch would retain his stake in Sky after Comcast won a 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. 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. Fox had said on Saturday it was "Considering its options" for its 39% take in Sky, but many analysts had expected it to sell to Comcast.

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