21st Century Fox announces $14.8bn deal to take over Sky

NEW YORK: 21st Century Fox said Thursday that Sky had agreed to a takeover offer worth $14.8 billion as tycoon Rupert Murdoch bids to create a global media giant.

Murdoch's Fox group said in a statement "that it has reached agreement with Sky plc on the terms of a recommended pre-conditional cash offer" to buy the rest of the European pay broadcaster, beyond the 39 percent it already owns.

The deal is worth #10.75 ($13.40) per Sky share, or $14.8 billion (14.2 billion euros ) in total for the cash purchase, the statement said.