21st Century Fox Offers $14.6 Billion To Take Full Control of Sky, The UK-Based Pay-TV Giant

21st Century Fox is among the companies that plunged into a buying frenzy this year. Finally, Rupert Murdoch's company offers the UK-based pay-TV giant Sky £11.7 billion ($14.6 billion) to fully take control of the company. This means that 21st Century Fox's control on its media empire all across the Atlantic has strengthened.

According to Variety, 21st Century Fox already owns the 39% of stocks on Sky. So, it is no surprise if the media empire wants to buy the remaining 61% at around £10.75 ($13.41) per share. If this deal goes through, the value of Sky would at around £18.5 billion ($23.1 billion).

21st Century Fox is buying UK's Sky in $14.6 billion deal https://t.co/7zUOQHSIdz #tech pic.twitter.com/9vH7xIS22t

— San Francisco News (@SFnewsnow) December 15, 2016

21st Century Fox mentioned in a statement that buying Sky at £11.7 billion ($14.6 billion) "creates a global leader in content creation and distribution, enhances our sports and entertainment scale, and gives us unique and leading direct-to-consumer capabilities and technologies." Further, as part of the transaction, Sky HQ will remain in London and will continue with a £1 billion ($1.25 billion) expansion of its headquarters, per Engadget.

CBS News noted that taking full control of the UK-based pay-TV giant allows 21st Century Fox to provide a distributor in Europe. Fox will be able to fully broadcast its own varied forms of media including Fox TV network and cable TV channels such as FX, Fox Sports, and the National Geographic. Of course, the company's major movie studio will also have access to Sky's 22 million customers in the UK, Ireland, Germany, Italy, and Austria.

Previously in 2010, 21st Century Fox attempted to purchase the remaining shares on Sky. However, the company deserted such effort because of the phone-hacking scandal the headlined British newspapers.