Comcast Beats Out Fox for Sky With $39 Billion Bid
The cable giant said it now hopes to complete its takeover of the European pay TV operator by the end of October.
Lucas Jackson/Reuters
Comcast is poised to take over the European broadcaster Sky after bidding $39 billion for the company, edging out 21st Century Fox in an unusual auction. If Sky shareholders accept the offer, it means one of the largest cable providers in the U.S. will own Europe's largest pay TV operator, with 22 million customers in seven countries. Fox now has to decide whether to sell its existing 39 percent share in Sky. CNBC reported that Comcast also wants to buy Disney's stake. Comcast said it hopes to complete the deal by the end of next month.
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