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Murdoch reaches for the Sky with £19bn buyout bid

By PA City Staff

Rupert Murdoch's 21st Century Fox has tabled a takeover bid for Sky, valuing the broadcaster at £18.7bn.

In a stock market announcement, the two firms said they had reached an agreement on a cash offer of £10.75 per share, but stressed that there was no certainty that a deal would be struck.

News of the potential deal sent shares in the Game Of Thrones broadcaster rocketing, closing up 26% on the London Stock Exchange.

Rumours had been mounting that Murdoch would make a fresh swoop for the UK-based satellite broadcaster after his attempt to launch a takeover was thwarted in 2011.

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