Comcast Buys Sky Stake From 21st Century Fox

Comcast said that it has purchased 21st Century Fox’s stake in Sky and now owns 75% of the satellite broadcaster.

Comcast has an offer out for the remaining Skystock.

“We are pleased today to be the majority owner of Sky,” said Comcast CEO Brian Roberts.”Led by Jeremy Darroch and his superb team -- now together with Comcast -- our combined global leadership in technology and content paves the way for us to accelerate investment and growth in Sky’s brand and premier platforms. 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.”

Related: 21st Century Fox Plans to Sell Stake in Sky

Comcast won sky in a bidding war with Fox on behalf of the Walt Disney Co.

“Comcast have committed to investment in Sky, including our Osterley and European 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,” said Jerermy Darroch, group chief executive officer of Sky plc. “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.”