Comcast beats Fox to win Sky takeover auction

Comcast has beaten Fox to win the takeover bid for Sky, which is set to cost $39bn. 
 
The auction between the two media conglomerates saw the cable company win with a bid $3bn higher than its rival, owned by Rupert Murdoch, according to the takeover panel. 
 
The auction marked the end of a bidding war that began back in February.
 
Murdoch already owned a 38% stake in Sky and had begun to lay claim to the full company as far back as December 2016.