Walt Disney has taken over Rupert Murdoch’s 21st Century Fox in a deal worth $52.4bn (£39bn), with Sky included in the package.
The deal, which was announced this afternoon, will see Disney acquire the 39 per cent of Sky currently owned by Fox and “full ownership” of the broadcaster when its bid for full control is completed.
Currently Fox’s bid for the 61 per cent of Sky it doesn’t own is under review by the UK competition watchdog amid concerns over its impact on media plurality and commitment to broadcasting standards.
In a joint statement the companies said: “Prior to the close of the transaction, it is anticipated that 21st Century Fox will seek to complete its planned acquisition of the 61 per cent of Sky it doesn’t already own.”
It said Fox remained “fully committed to completing the current Sky offer” which is anticipated to be completed by June 30, 2018, at which point Disney would “assume full ownership of Sky”.
More to follow.
Picture: Disney