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Murdoch's Fox increases Sky bid to £24.5bn in takeover battle

Murdoch's Fox increases Sky bid to £24.5bn in takeover battle

Business
Rupert Murdoch's 21st Century Fox has increased its offer for UK broadcaster Sky to £24.5bn, topping a previous offer from rival bidder Comcast.US media giant Comcast made a £22bn offer for Sky in February, trumping a previous offer from Fox, which valued Sky at £18.5bn.Fox is expecting to get regulatory approval from Britain this week for the deal.Fox said Sky's independent committee had agreed the deal.Fox has been trying to get approval from UK regulators since 2016 to buy the 61% of Sky it does not own already.The bid was held up by fears that it could give Mr Murdoch too much power over UK media.Fox has been trying to address those concerns through concessions, including selling Sky News to Disney once the deal is complete.In June, ...
Walt Disney buys Murdoch's Fox for $52bn

Walt Disney buys Murdoch's Fox for $52bn

Business
Media playback is unsupported on your deviceWalt Disney has agreed to buy the bulk of 21st Century Fox's business for $ 52.4bn (£39bn), in a deal both companies said position them to compete in the rapidly changing media industry.The purchase includes Fox's film and television studios, as well as its 39% stake in satellite broadcaster Sky.Fox will form a news-focused company with its remaining assets.The move is a sharp shift for 86-year-old Fox owner Rupert Murdoch after more than half a century of media expansion.Mr Murdoch turned a single Australian newspaper he inherited from his father at the age of 21 into one of the world's largest news and film empires.He said the break-up makes sense amid new threats from online advertising and competitors who are streaming entertainment into home