Comcast outbids Fox with £30billion bid in battle for control of Sky after 24-hour auction
- Comcast and 21st Century Fox entered a 24-hour bidding war for Sky
- Rupert Murdoch, 87, planned to hand reigns to his sons James and Lachlan
- Rival Brian Roberts’ Comcast outbid Fox today, the Takeover Panel has said
- Comcast’s bid values Sky as worth more than £30billion
- Sky shareholders will still have to vote to approve the deal
Comcast has outbid Fox for control of Sky, according to the Takeover Panel, valuing the company at over £30billion.
The fight to buy Sky yesterday sparked a 24-hour auction between US rivals that will now make or break Rupert Murdoch’s so-called retirement deal.
Comcast and 21st Century Fox entered a quick-fire bidding war for the British broadcaster that ended tonight with Comcast outbidding Fox for control of Sky for £30billion.
Sky shareholders will still have to vote to approve the deal.
Rupert Murdoch’s 21st Century Fox and US media giant Comcast agreed to settle the tussle with a three-round auction that started at 5pm yesterday.
More to follow.
Rupert Murdoch’s Fox and Bob Roberts’ Comcast entered a three-bid auction for Sky
The wrestling match to take over Sky had gone on for two years and was expected to reach £26billion but Comcast’s bid values Sky as worth more than £30billion