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Comcast secures over 75% of Sky shares

Close-up view of a household Sky television remote control.
Dave Thompson - PA Images | PA Images | Getty Images

Comcast said it had secured over 75 percent of Sky's shares, bringing it closer to finalizing the $40 billion takeover of the British pay TV group.

The U.S. cable company, parent of NBCUniversal and CNBC, has previously said it hoped the acquisition would complete by the end of October.

Last month, Comcast emerged triumphant in the long-running battle for Sky after it beat Rupert Murdoch's Twenty-First Century Fox in an auction. Comcast said in a regulatory filing on Thursday that by Oct. 9 when its acquisition of Twenty-First Century Fox's 39 percent stake completes, it will hold or have received acceptances in respect of over 75 percent of Sky's share capital. The company said a further announcement will be made in due course.

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Fox will sell remaining Sky stake to Comcast for around $15 billion

Key Points
  • Fox says it will sell the remainder of its stake in U.K.-based broadcaster Sky to Comcast.
  • Comcast and Fox had been embroiled in a bidding war for Sky, which is viewed as a coveted international asset in the pay-TV industry.