Walt Disney has taken over Rupert Murdoch’s 21st Century Fox in a deal worth $52.4bn (£39bn), it was announced this afternoon.
Disney acquires the 39 per cent of Sky currently owned by Fox and “full ownership” of the broadcaster if and when its ongoing takeover bid is completed, according to the terms of the deal.
Currently Fox’s attempt to grab the 61 per cent of Sky it doesn’t already 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 issued today, 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.” They 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”.