Comcast to buy Fox’s Sky stake

US cable group Comcast has confirmed an agreement to buy 21st Century Fox’s 39 per cent stake in Sky for £11.6 billion after emerging victorious in the takeover battle for the pay TV giant.

Comcast said it will have the backing of more than 75 per cent of shareholders in Sky after snapping up the stake held by Rupert Murdoch’s Fox for £17.28 each.