https://wccftech.com/comcast-knocks-fox-out-of-sky-takeover-battle/

In what looks to have been a knockout blow, Comcast (NASDAQ:CMCSA) appears to have won the final showdown for control of the UK’s Sky (LON:SKY) pay TV service after massively outbidding its rival Fox (NASDAQ:FOXA) in the final auction which took place yesterday with Comcast bidding £17.28 per share vs. Fox’s £15.67 per share.

Comcast’s winning bid values Sky at a staggering £30.5 billion and has now been recommended by the board to its shareholders. Normally that would be enough to secure the deal and bring the long running competition to a close, however this isn’t an ordinary deal and Fox is no ordinary bidder. Rupert Murdoch’s corporation already has a significant holding in Sky, representing about 39% of ownership due to its key role in the formation of the company in the past. It has long sought to buy out Sky but in the past has been thwarted by media scandals within its other group companies in the UK which lost it much regard in UK public opinion.