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In what has been a bidding war between some of the largest US media companies, the British company Sky has found itself in the center.
The company is considered a coveted asset in the entertainment industry because it is a major player on the pay-TV scene in the UK, as well as in the digital media arena.
A buy-back deal would also come on the heels of Sky's breakthrough in the gaming market as the telecom company plans to develop games based on its TV shows following an agreement with Skybound Entertainment, the firm behind "Walking Dead".
The battle between the US giants was tense, with bids launched right and left to extend their reach to both industry and a foreign market.
Before the news Sky's offerings were $ 34 billion from Comcast and $ 32.5 billion from Twenty-First Century Fox.
Fox already owns a 39% stake in Sky. The company originally had an agreement in December 2016 to buy the part of Sky that she did not already own.
The bidding war was complicated in July after Comcast pulled out of an offer to buy Fox's assets, conceding a defeat during a bidding war with Disney .
Fox, under the control of the influential Murdoch family, was under the scrutiny of UK regulators and politicians over concerns that a takeover could overly influence the Murdochs.
CNBC & # 39; s
Sam Meredith
contributed to this report.
Disclosure: Comcast is the owner of NBCUniversal, the parent company of CNBC and CNBC.com.
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