Comcast Outbids Fox For Takeover Of Sky

Comcast beat Rupert Murdoch's Twenty-First Century Fox in the battle for Sky after offering around 30 billion pounds for the British broadcaster. It was a rare auction to decide the fate of the pay-television group.

Business Insider reports that U.S. cable giant Comcast bid 17.28 pounds a share for control of London-listed Sky. This versus an offer of 15.67 pounds a share offer by Fox. The Takeover Panel made a statement shortly after final bids were made on Saturday.

The two media titans faced off in a rare one-day auction that took three separate sealed rounds of bids to produce a victor.

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