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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