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The Japanese wireless carrier will invest $1 billion, while the remainder will be paid by existing investors.
Fox's run at London-based Sky, the European satellite operator, shows just how far the media industry has changed in the two years since the Murdochs tried to buy Time Warner.
Though thwarted in its attempt two years ago to buy Time Warner, Fox proves it still has global ambitions by securing a preliminary deal to buy all of Europe's Sky.