UK Gives Nod to Purchase of Sky by Fox


The British Secretary of State for Digital, Culture, Media and Sport approved the merger of the British media company Sky with US media holding 21st Century Fox controlled by billionaire Rupert Murdoch.

In a press release on Wednesday independent Sky directors approved the deal. Now 21st Century Fox owns a 39% package in the British company. The American media corporation earlier said it sought to increase its share to 100%. For the remaining package of 61% shares, Murdoch’s company offered 24.5 billion pounds (about $ 32.48 billion).

The proposed amount is 30% more than previously offered by the company. The deal was postponed several times. Competitor 21st Century Fox – American company Comcast – also claimed to buy a package of Sky. Now the company can come up with a new offer, raising the price of the deal. 21st Century Fox and Comcast compete for Sky assets for the past year and a half.

21st Century Fox is one of the world’s leading portfolios of cable, broadcast, film, paid TV and satellite assets spanning six continents across the globe. It boasts 1.8 billion subscribers in approximately 50 local languages.

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