Comcast and Verizon Reportedly Join the Pursuit for 21st Century Fox
Sky plc (SKYAY) shares surged to the top of the FTSE 100 Friday, after reports that Comcast (CMCSA) - Get Report and Verizon (VZ) - Get Report had joined the pursuit for 21st Century Fox (FOXA) - Get Report .
Sky shares gained 2.49%, changing hands at 925 pence, the stocks biggest gain since June and outpacing the 0.18% decline for the FTSE 100 Friday.
Fox owns a 39% stake in Sky and is in the midst of a proposed, and contentious, $15.3 billion bid to buy the near 60% it doesn't already own.
Comcast is reportedly interested in buying a substantial piece of 21st Century Fox, while Verizon's interest is still in the preliminary stages, The Wall Street Journal reported. The move follows discussions between Disney (DIS) - Get Report and the Rupert Murdoch-owned media conglomerate.
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