Comcast takes majority control of broadcaster Sky

Comcast takes majority control of broadcaster Sky

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Murdoch, Sky, Comcast

Sky chairman James Murdoch has resigned from the broadcaster as US cable giant Comcast took control of the British firm.

Comcast said on Tuesday that it has acquired more than 75% of Sky after snapping up the 39% stake that belonged to Rupert Murdoch’s 21st Century Fox.

Alongside the announcement, James Murdoch and a string of other Sky directors resigned from the firm.

They include John Nallen, Chase Carey, Martin Gilbert, Andy Sukawaty, Tracy Clarke and Katrin Wehr-Seiter.

Comcast boss Brian Roberts said: “We are pleased today to be the majority owner of Sky.

“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.”

Comcast emerged victorious in the takeover for the pay TV giant last month after beating 21st Century Fox, controlled by the Murdoch family, in a long running takeover battle.

The group tabled a £30 billion bid for Sky, dwarfing Fox’s bid by a distance.

It means the Murdochs have relinquished their holding in Sky, having twice failed to take full control of the broadcaster.

Sky boss Jeremy Darroch said: “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.

“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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