21st Century Fox to take over European broadcaster Sky
21st Century Fox and Sky PLC say they have agreed on a $14.6-billion takeover of the British broadcaster by the US-based media giant. The deal announced Dec 15 values Sky shares at $13.41 each. It is not expected to be complete before the end of 2017. Rupert Murdoch's Fox already owns just over 39% of Sky. An earlier attempt to acquire the rest was scuttled by the 2011 phone-hacking scandal that rocked his British newspapers. Taking control of Sky would give 21st Century Fox, which owns cable networks Fox News, FX and the Fox broadcast channel and a major Hollywood film studio, a distributor in Europe. Sky has 22 million customers in the UK, Ireland, Germany, Austria and Italy.
21st Century Fox to take over European broadcaster Sky Fox Strikes $14.8 Billion Deal For Sky (Multichannel News)