Murdoch sells Sky shares for £11.6bn

UNIVERSAL Studios owner Comcast has cemented its control of Sky, doing a £11.6bn deal with Rupert Murdoch.

The US giant said it had agreed to buy the 39pc of the broadcaster held by Murdoch’s 21st Century Fox.

This means it has secured more than 75pc of Sky’s shares, moving it a step closer to completing its £30bn takeover of the British company.

Last week Comcast built up a 37.7pc stake, after winning a dramatic bidding war with Fox which meant Murdoch failed for the second time to seize control of Sky.

He had previously dropped another bid in 2011 but swooped again in 2016.

Concerns raised by regulators, however, slowed the process and Comcast derailed the takeover with their bid earlier this year.