COMCAST

U.S. cable company Comcast took control of Sky on Tuesday after it acquired the 39 percent of the company owned by Twenty-First Century Fox, the rival it defeated with a $40 billion knock-out bid for the European pay-TV group last month.

Britain has sought additional reassurances from cable company Comcast over the editorial independence of the Sky News television channel following the U.S. group’s takeover of broadcaster Sky.

Twenty-First Century Fox Inc agreed to sell its 39 percent stake in Sky PLC to Comcast Corp, the companies said Wednesday, a deal that completes the U.S. cable group's takeover and ends Rupert Murdoch's relationship with the U.K.-based satellite broadcaster.

Shares in Sky jumped 9 percent on Monday to within touching distance of the 17.28 pounds a share Comcast bid to beat Twenty-First Century Fox in the battle for Europe’s biggest pay-TV group.

The cable giant beat Rupert Murdoch, and his backer Disney, in the battle for Sky with an eye-watering $40 billion bid.

Comcast and Twenty-First Century Fox face a quick-fire auction for British broadcaster Sky on Saturday after neither side backed down in a drawn-out $34 billion battle.

A protracted $34 billion bidding war for European broadcaster Sky between U.S. rivals Comcast and Twenty-First Century Fox is likely to be settled by a quick-fire auction on Saturday.