Comcast Closes Deal for Fox’s Sky Stake, Owns Over 75% of European Pay-TV Giant

Comcast said Tuesday that it now owns more than 75% of Sky having acquired shares and closed a deal for Fox’s 39.1% stake in the pay-TV giant. The process of delisting Sky from the London Stock Exchange will now get underway and is set to be completed by Nov. 7.

“We are pleased today to be the majority owner of Sky,” Comcast chairman and CEO Brian Roberts said in a statement. “Led by Jeremy Darroch and his superb team – now together with Comcast – our combined global leadership in technology and content paves the way for us to accelerate investment and growth in Sky’s brand and premier platforms.”

In the same week that U.K. culture secretary Jeremy Wright underlined his expectations regarding the Sky News channel after the change of ownership – “I’ve left them in no doubt at all about the importance of editorial independence and Sky News,” he said – Roberts addressed the issue.

“We are also fully committed to ensuring Sky News’ future, maintaining its editorial independence, and preserving its strong track record for trusted, high quality, impartial news,” he said.

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