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Comcast outbids Fox in £30billion battle for control of Sky after 24-hour auction 

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. 

Comcast Corp. President and CEO Brian Roberts talks about the digital revolution at the National Cable & Telecommunications Association convention in Chicago, Illinois June 9, 2003

Rupert Murdoch’s Fox and Bob Roberts’ Comcast entered a three-bid auction for Sky

The wrestling match to takeover Sky had gone on for two years 

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

 

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