Fox will sell Sky stake to Comcast for about $15 billion

Fox will sell Sky stake to Comcast for about $15 billion

7 years ago
Anonymous $oIHRkISgaL

https://www.cnet.com/news/fox-will-sell-sky-stake-to-comcast-for-about-15-billion/

On Wednesday, Fox said it would sell its 39 percent stake in Sky to Comcast for 11.6 billion pounds (more than $15 billion).

The deal is the latest in a frenzied period of media giants attempting to buy each other, as traditional broadcast and movie companies face growing competition from tech giants. Deep-pocketed firms like Netflix and Amazon have eye-popping budgets and are pouring money into media production and streaming rights.