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Sky accepts 21st Century Fox offer

dpa logodpa 15/12/2016

Rupert Murdoch's 21st Century Fox has bought the UK's Sky media company.

British broadcaster Sky has accepted a buyout valuing the company at some STG18 billion ($A30 billion) from media tycoon Rupert Murdoch's US-based 21st Century Fox, the company says.

21st Century Fox, which already owns about 40 per cent of Sky, will pay STG11.7 billion for the remaining shares, Sky said in an announcement to the London Stock Exchange.

The two companies had agreed an offer price of STG10.75 per share, about 40 per cent above the closing share price on December 6, it said.

The takeover is scheduled to be completed by the end of next year, it said.

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