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Murdoch's Fox agrees $32.5 billion bid for Sky

Reuters  |  LONDON 

LONDON (Reuters) - Rupert Murdoch's 21st Century Fox said it had agreed a deal to buy Britain's Sky with an offer valuing the pay-TV group at $32.5 billion, trumping 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.The price agreed, which represents an 82 percent premium to the price of Sky's shares in December 2016 before Fox's initial offer, is at a multiple of 21 times 2017 earnings per share, Fox said. But ...

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First Published: Wed, July 11 2018. 11:55 IST
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