Acquisition discussions between 21st Century Fox and Sky have ended with a $14.6 billion deal that'll see the largest pay-TV network in Europe be operated by the former. Between its operations in the UK and other parts of Europe, Sky has a reach of 22 million subscribers.
21st Century Fox views this deal as a way to boost its distribution of content from its television networks and movie studios.
Sky's headquarters will remain in London.
This deal has been a long time coming. 21st Century Fox already owns 39% of Sky's shares and it's been trying to acquire the rest for years.
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