Following Comcast’s premium offer for British broadcaster Sky, 21St Century Fox and Disney have decided to sell 21CF’s existing 39 percent Sky stake to Comcast.
“In light of the premium Comcast has agreed to pay for Sky, we and Disney have decided to sell 21CF’s existing 39% holding in Sky to Comcast. We congratulate Comcast on their pending acquisition,” according to a statement from 21CF.
The Walt Disney Company noted in a press released that it has “consented” to 21CF’s decision to sell its 39 percent stake in Sky under terms of Comcast Corp.’s £17.28 per share offer for Sky. The current value of 21CF’s Sky stake is more than $15 billion.