Comcast outbids Rupert Murdoch’s Fox to win control of Sky

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US cable giant wins auction with offer of £30bn, ending years of Murdoch control

Rupert Murdoch’s three decades in control of Sky is likely to end after his 21st Century Fox company was outbid by US rival Comcast, who offered £30bn to take full control of the British-based broadcaster in a high-stakes auction.

The announcement on Saturday that Comcast has emerged on top was made after both companies submitted blind bids in a highly unusual process overseen by the Takeover Panel following a two-year bidding process. Comcast bid at £17.28 per share, substantially more than Fox’s £15.67 offer.

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#media business
#rupert murdoch
#comcast
#television industry
#sky plc
#21st century fox
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#business