Sky agrees to be taken over

Sky shares jumped as the company agreed to a take over by US media giant 21st Century Fox at a price of 1075p per share in cash, for a 36% premium on the shares' closing price as of 8 December.

Link.

I assume, but don't know, that this means Sky over here.

In reference to www.theguardian.com/business/2016/dec/09/rupert-murdochs-fox-agrees...:

British broadcaster Sky has agreed an £18bn takeover by Rupert Murdoch�s US media group 21st Century Fox five years after a takeover was abandoned at the height of the phone-hacking scandal.

Reading that, (thanks for it), not quite as definite as my quote or the Guardian's own headline suggest.

I thought The Murdoch's already owned it. Or did they just form 21CF?

See cheshire_man's link .

Edited by RobertoS (Fri 09-Dec-16 19:06:44)

Murdoch buys Murdoch.

So they are taking over their own company?

Not quite - Fox (Murdoch) already owns 40%, now he seeks to own the rest of the company.

BBC report says only that directors of Sky are likely to recommend acceptance. But the deal could still be rejected as apparently 30% of sky shareholders voted AGAINST the son of Rupert Murdoch being made chairman of Sky!

Story here