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[h=1]Sky and 21st Century Fox agree £18.5bn takeover deal[/h]
Rupert Murdoch's 21st Century Fox will pay £11.7bn for the 61% stake it does not already own.
Sky shareholders will receive £10.75 in cash for each share, valuing the entire company at £18.5bn.
The deal comes amid concerns that Rupert Murdoch, who also owns the Sun and the Times newspapers, will have excessive influence over UK media. Link.
This subject of Murdoch's continued attempts to take over Sky has come up before on the Europe forum but it seems like Murdoch finally has his prize.
James Murdoch, Rupert Murdoch's son, is both chairman of Sky and chief executive of Fox.
Ah well, looms like Murdoch did everything he could to make sure this takeover was going to happen. My only wish is that Ofcom watch their broadcasts even more closely than before - impartial reporting is a cornerstone of our broadcast media.