Breaking UK finally clears Rupert Murdoch's Fox to bid for Sky

Mai Fyfield is viewed as one of the main architects of Sky's success

Fox is seeking to acquire the remaining 61 percent of Sky, valuing the company at $32.5 billion, and handing it over to Disney. Topping Comcast's 12.50 pounds a share. Fox, which already owns 39% of Sky, on Wednesday said the independent committee the British company had formed for the sale has approved its offer. "It is now a matter for the Sky shareholders to decide whether to accept 21CF's bid". Fox wants a deal at 14 pounds a share.

Neither Comcast nor Sky immediately responded to requests for comment.

"We have long admired Sky, which we believe is an outstanding company and a great fit with Comcast".

Sky shares traded at £14.90 as of 9:55 am in London.

This all part of the ongoing battle for Fox's entertainment assets. gets more complicated as the days go on. Sky's shares closed at £15.01 on Tuesday, suggesting shareholders think the battle is not over. Comcast now has a 60-day window before Sky shareholders can vote to approve the deal. Sky is a pawn in a wider contest between Comcast and Walt Disney Co. for the bulk of Murdoch's media empire, as the U.S. media giants try to take on powerful digital rivals like Netflix Inc.

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One hedge fund manager with a stake in Sky welcomed that pledge as a sign that Disney backed Fox in the battle.

"We are please to be announcing a recommended increased offer for Sky today", said Brian Roberts, chief executive of Comcast. Analysts said it was not a knock-out, and Fox did not say it was its final offer.

He said amended guarantees had been made over Sky News to address concerns over media plurality, as well as changes to the associated brand licensing agreement following responses to the Government's consultation.

Fox's long-running pursuit for all of Sky has been plagued by United Kingdom government fears over media plurality and broadcasting standards and the influence of Australian-born USA citizen Murdoch.

Murdoch had previously tried to buy Sky in 2011 when a phone hacking scandal at his News of the World tabloid sparked a political backlash over his role in Britain.

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