Following talks last week, 21st Century Fox has agreed to buy Sky, the UK's largest pay-TV network, for £11.7 billion ($14.6 billion). The UK-based pay-TV broadcaster and broadband provider counts nearly 22 million subscribers in the UK, Ireland, Italy, Germany and Austria. That'll give Rupert Murdoch a delivery platform for his 20th Century Fox movie studio and Fox TV network, along with cable TV channels like FX, Fox Sports and National Geographic.
The deal "creates a global leader in content creation and distribution, enhances our sports and entertainment scale, and gives us unique and leading direct-to-consumer capabilities and technologies," 21st Century Fox said in a statement. As part of the deal, Sky headquarters will stay in London and continue a £1 billion ($1.25 billion) expansion of its headquarters.
The deal "creates a global leader in content creation and distribution, enhances our sports and entertainment scale, and gives us unique and leading direct-to-consumer capabilities and technologies," 21st Century Fox said in a statement. As part of the deal, Sky headquarters will stay in London and continue a £1 billion ($1.25 billion) expansion of its headquarters.
Source: 21st Century Fox
Via: Bloomberg
Via: Bloomberg
