Rupert Murdoch’s control of Sky is likely to end after three decades after his 21st Century Fox company was outbid by US rival Comcast, which offered £30bn to take full control of the British-based broadcaster in a high-stakes auction. Comcast bid at £17.28 per share, substantially more than Fox’s £15.67 offer. Murdoch has craved full control of Sky for years and his Fox company already owns 39% of the company. The takeover process began in December 2016 when Fox tabled a bid to take full control of the London-based satellite broadcaster in a deal valuing the business at £18bn. Sky has never stood still, and with Comcast our momentum will only increase.”The auction marks a dramatic end for Sky as an independent company.

Source: The Guardian September 22, 2018 20:07 UTC