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Rupert Murdoch's Fox to sell Sky stake to Comcast

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By Reuters
Rupert Murdoch's Fox to sell Sky stake to Comcast
The Twenty-First Century Fox Studios flag flies over the company building in Los Angeles, California U.S. November 6, 2017. REUTERS/Lucy Nicholson   -   Copyright  LUCY NICHOLSON(Reuters)

LONDON (Reuters) – Rupert Murdoch’s Fox <FOXA.O> said on Wednesday it would sell its 39 percent stake in Sky <SKYB.L> to Comcast <CMCSA.O>, the U.S cable giant that outbid it in an auction to take control of the European pay-TV group on Saturday.

Twenty-First Century Fox had agreed to sell its stake in Sky to Walt Disney Co <DIS.N> 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 Comcast at the offer price, which valued the holding at 11.63 billion pounds, Fox said.

(Reporting by Paul Sandle; editing by Costas Pitas)