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Rupert Murdoch Expands TV Empire With $14.6 Billion Sky Deal

Dec. 19, 2016, 5:00 AM

Rupert Murdoch’s 21st Century Fox Inc. agreed to acquire the rest of Sky Plc for 11.7 billion pounds ($14.6 billion), in Murdoch’s second run at Europe’s dominant pay-TV company, as the media billionaire seeks to consolidate his television empire across two continents.

Fox will pay 10.75 pounds a share for the 61 percent of London-based Sky it doesn’t already own, according to a statement Dec. 15. That represents a premium of 36 percent over Sky’s closing price on Dec. 8, the day before the companies disclosed a preliminary offer. Murdoch is returning after a previous bid was thwarted in 2011 over ...