Home Business NewsBusiness Murdoch’s Fox selling entire Sky stake to Comcast

Murdoch’s Fox selling entire Sky stake to Comcast

by Purvai Dua
26th Sep 18 3:20 pm

In a move that will allow Comcast full control of Sky, Rupert Murdoch’s Fox is selling its entire 39 per cent stake in the European pay-TV giant.

This also means that the Murdoch family will relinquish their holding in the broadcast group.

“In light of the premium Comcast has agreed to pay for Sky, we and Disney have decided to sell 21CF’s existing 39% holding in Sky to Comcast,” Fox said in a statement today, adding: “We congratulate Comcast on their pending acquisition.”

Twenty-First Century Fox had agreed to sell its stake in Sky to Walt Disney Co as part of a separate deal.

Disney had consented to Fox’s decision to either accept Comcast’s offer or to sell the stake to the US cable giant at the offer price, which valued the holding at £11.63bn, Fox said.

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