21st Century Fox Buys Out Sky For 24.5 Billion Pounds

Rupert Murdoch’s 21st Century Fox said it had secured a deal to buy Britain’s Sky after it increased its offer to 24.5 billion pounds on Wednesday, gaining the upper hand in its battle with rival bidder Comcast.

Fox, which is expecting to get regulatory approval from Britain this week after striking an initial deal with Sky in December 2016, upped its offer to 14 pounds per share, from its earlier 10.75 pounds per share. Comcast had offered 12.50 pounds.

Fox said it had secured the agreement of the independent committee of Sky for the deal.

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