Fox plans to concede defeat in Sky battle, review stake: source

LONDON (Reuters) – Rupert Murdoch’s Twenty-First Century Fox (FOXA.O) expects Sky’s (SKYB.L) independent directors to recommend Comcast’s (CMCSA.O) $39 billion bid, after which Fox will concede defeat in the battle for the British broadcaster, a source with knowledge of the matter told Reuters.

FILE PHOTO: The 21st Century Fox logo is displayed on the side of a building in midtown Manhattan in New York, U.S., February 27, 2018. REUTERS/Lucas Jackson/File Photo

Fox will also review options for its 39 percent stake in Sky after Comcast outbid Murdoch’s group with a 17.28 pounds a share offer for the pay-television group, the source said.

Reporting by Ben Martin, Editing by Paul Sandle

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