Comcast buys Fox's stake in Sky for £11.6B - Breaking The News

Comcast buys Fox's stake in Sky for £11.6B

4 October

1 min read

EPA-EFE / ANDY RAIN

Comcast Corp. said in a regulatory filing on Thursday that it reached a deal with 21st Century Fox to buy its 39% stake in Sky plc in a deal worth £11.6 billion.

According to the agreement, the American broadcasting giant will pay Fox £17.28 per share for 672.8 million Sky shares. The acquisition of Fox's stake in Sky is expected to be completed by October 9.

The purchase will give Comcast a 75% stake in the British media company since Sky accepted its offer of $39 billion for a 37.7% stake in the firm last week. Earlier, Comcast outbid Fox for the takeover of Sky in a blind auction when it offered £17.28 per share, compared to Fox's offer of £15.67 per share.

comcast sky mergers and acquisitions 21st century fox

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