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Banking Fox plans to sell stake in Sky to Comcast for $15B

Fox plans to sell stake in Sky to Comcast for $15B

Other News

Book celebrates defunct newspaper on anniversary of demise

By ANDREW WELSH-HUGGINS Associated PressCOLUMBUS, Ohio (AP) — The Vindicator in Youngstown, a 150-year-old paper that shut down last year because of...

D Magazine founder Wick Allison dies

D Magazine founder and longtime publisher Wick Allison died Sept. 1 after a lengthy battle with cancer, according to a story in...

Fortress Festival team launching Fort Worth-based creative agency

The team behind Fortress Festival is launching Fortress Creative, a new full-service creative agency focused on serving brands and local businesses.

Local agencies take home national honors at AAF program

Balcom Agency wins five silver awards Balcom Agency, a Fort Worth agency founded in...

NEW YORK (AP) — 21st Century Fox will sell its remaining stake in British pay TV provider Sky to Comcast in the latest financial wrangling as Disney prepares to acquire Fox’s entertainment assets.

Over the weekend, Comcast won a rare bidding auction for 61 percent of Sky offering 17.28 pounds per share, almost 30 billion pounds ($39 billion). Fox will sell its 39 percent stake to for 11.6 billion pounds ($15.25 billion).

Last December a bidding war between Walt Disney Co. and Comcast began over Fox’s entertainment assets. Walt Disney Co. prevailed and is in the process acquiring Fox. Comcast dropped out of that contest to focus on its acquisition of Sky.

Disney says the sale will significantly reduce the amount of debt it is taking on by acquiring Fox’s entertainment assets.

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