Broadcaster Sky and 21st Century Fox have reached agreement on the terms of a takeover deal.
Rupert Murdoch's 21st Century Fox is paying £11.7bn for the 61% stake it does not already own.
Sky shareholders will receive £10.75 in cash for each share, valuing the company at £18.5bn.
Some investors are unhappy that the bid undervalues the satellite broadcaster and had called on the independent directors to extract a higher offer.
Sky has 22 million customers in the UK, Ireland, Italy, Germany and Austria.
In 2011, Rupert Murdoch abandoned a bid to buy Sky in the wake of the hacking scandal.
His son James is both chairman of Sky and chief executive of Fox
Sky and 21st Century Fox agree PS18.5bn takeover deal - BBC News
Rupert Murdoch's 21st Century Fox is paying £11.7bn for the 61% stake it does not already own.
Sky shareholders will receive £10.75 in cash for each share, valuing the company at £18.5bn.
Some investors are unhappy that the bid undervalues the satellite broadcaster and had called on the independent directors to extract a higher offer.
Sky has 22 million customers in the UK, Ireland, Italy, Germany and Austria.
In 2011, Rupert Murdoch abandoned a bid to buy Sky in the wake of the hacking scandal.
His son James is both chairman of Sky and chief executive of Fox
Sky and 21st Century Fox agree PS18.5bn takeover deal - BBC News
