Fox sells remaining Sky shares to Comcast for $15 billion

Sky.
(Image credit: BEN STANSALL/AFP/Getty Images)

21st Century Fox announced Wednesday it will sell its remaining stake in U.K. broadcaster Sky to Comcast, CNBC reports. The transaction will be worth about $15 billion.

Rupert Murdoch's Fox empire has long sought to own Sky, and it has spent months competing with Comcast to make the purchase. Murdoch and Comcast both hoped purchasing Sky would launch them into the streaming universe to compete with Netflix, NPR explains. But the U.S. cable company finally proved victorious Saturday when its offer of roughly $39 billion topped Fox's at an auction.

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Kathryn Krawczyk

Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.