21^st Century Fox: proposal to acquire Sky which would value the group at £18bn (€21.5bn)

The independent directors of Sky announced it has been approached by the US media conglomerate 21^st Century Fox in order to acquire all of the British broadcaster, on 09/12/2016. The two entities have agreed to a proposal at £10.75 (€12.7) per share of Sky, valuing the British group at £18bn (€21.5bn).

"Some terms in the offer are still under discussion and there is no certainty that an offer will ultimately be filed," said Sky, indicating that it will recommend the offer to its shareholders if an agreement is reached. 21^st Century Fox has until 06/01/2017 to confirm its offer.

James Murdoch, son of Rupert Murdoch, became president of Sky plc board of directors on 29/01/2016 and officially took office at the end of April 2016. Also CEO of 21^st Century Fox (which owns 39.1% of Sky), he had already occupied the Sky presidency between 2003 and 2007.

• At the close of trading on 09/12/2016, the stock price of Sky rose 26.66% on the day to stand at £10 (€11.90).
• 21^st Century Fox has lost 1.43% to $28.21 (€26.60) on the New York Stock Exchange.

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