Sep 28, 2018

Rupert Murdoch’s Sky adventure reaches end of road

After almost 30 years Rupert Murdoch is selling Sky, one of his most treasured assets, as part of the dismantling of an entertainment empire that took him decades to assemble. The confirmation this week that his 21st Century Fox group would sell its 39 per cent stake in Sky to Comcast represents the end of an era for pay-television in Europe. It would have been unthinkable even a year ago to imagine Mr Murdoch severing his ties with Sky. Reuniting New Fox with News Corp, the home of Mr Murdoch's print assets such as the Wall Street Journal and The Times, has been mentioned as a possible move for Mr Murdoch. The cash generation capability of New Fox, and the ability of live sport to attract viewers and advertising dollars, means Rupert and Lachlan will continue to play a big role.

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