Rupert Murdoch’s 21st Century Fox agrees to acquire Sky for 24.5 billion pounds

Having outbid Comcast, 21st Century Fox expects to receive regulatory approval from Britain later this week.

On Wednesday, 21st Century Fox stated it has secured a deal to acquire Britain’s Sky for 24.5 billion pounds.

Rupert Murdoch’s 21st Century Fox gained the upper hand in its battle to outbid Comcast when it raised its offer to 14 pounds from 10.75 pounds against Comcast’s offer of 12.50 pounds per share.

Fox expects to receive regulatory approval from Britain later this week.

In a statement, Fox stated, it has secured the agreement of the independent committee of Sky for the deal.

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