True Pundit

Business World

Rupert Murdoch Expands TV Empire With $14.6 Billion Sky Deal

Share:

[ditty_news_ticker id=”25027″]

21st Century Fox Inc. agreed to acquire the rest of Sky Plc for 11.7 billion pounds ($14.6 billion), in Rupert Murdoch’s second run at Europe’s dominant pay-TV company, as the media billionaire seeks to consolidate his television empire across two continents.

Fox will pay 10.75 pounds a share for the 61 percent of London-based Sky it doesn’t already own, according to a statement Thursday. That represents a premium of 36 percent over Sky’s closing price on Dec. 8, the day before the companies disclosed a preliminary offer. Murdoch is returning after a previous bid was thwarted in 2011 over a phone-hacking scandal at his newspapers. – READ MORE

FOLLOW US!
Follow on FacebookFollow on Twitter
Share:

Leave a Reply