US cable giant Comcast on Tuesday said it is now the majority shareholder of pan-European TV satellite company Sky after purchasing 21st Century Fox's 39-percent holding in the group. It follows a long-running battle to take control of Sky, with Comcast coming out on top against Rupert Murdoch's 21st Century Fox. The two US entertainment giants each wanted full control of Sky in the face of increasing pressure from Netflix and Amazon for viewers.
"We are pleased today to be the majority owner of Sky," Comcast chief executive Brian L. Roberts said in a joint statement to the London Stock Exchange. With the acquisition of Sky, Comcast captures the broadcaster's live rights for English Premier League football. "We are also fully committed to ensuring Sky News' future, maintaining its editorial independence, and preserving its strong track record for trusted, high quality, impartial news," Roberts added in reference to the 24-hour rolling channel.
Comcast last month successfully bid £30.6 billion ($40.1 billion, 35 billion euros) for Sky, which has almost 23 million subscribers across Europe.
Fox's highest offer was worth £27.6 billion, and the pair was separated in the end by a rare blind auction following a drawn-out bidding war.
"Comcast have committed to investment in Sky, including our... headquarters and we very much look forward to working with Brian and the Comcast team to achieve further growth and development of Sky's business," Sky chief executive Jeremy Darroch said in Tuesday's statement. "Separately, Sky News will benefit greatly from Comcast's funding commitments over the coming years and the arrangements that will be put in place to preserve and enhance its editorial independence."
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