LONDON — Twenty-First Century Fox and Sky PLC say they have agreed on an 11.7 billion pound ($14.6 billion) takeover of the British broadcaster by the U.S.-based media giant.
The deal announced Thursday values Sky shares at 10.75 pounds ($13.41) each. It is not expected to be complete before the end of 2017.
Rupert Murdoch's Fox already owns just over 39
Taking control of Sky would give Twenty-First Century Fox, which owns cable networks Fox News, FX and the Fox broadcast channel and a major Hollywood film studio, a distributor in Europe. Sky has 22 million customers in the U.K., Ireland, Germany, Austria and Italy.