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Chart: Fox pounces on Sky

Theron Mohamed

Chart: Fox pounces on Sky

Shares in Sky (SKY) soared more than a quarter on Friday afternoon after the pay-TV broadcaster agreed a preliminary takeover by 21st Century Fox (US:FOXA), its largest shareholder. Our chart shows the precipitous fall in Sky's share price in the summer of 2011, when the phone-hacking scandal at News Corporation (before it was split into 21st Century Fox and News Corp) scuppered its previous attempt to buy Sky. It also highlights its strong growth over the past four years, as well as its decline this year due to Brexit uncertainty, the weaker sterling, fierce competition from the likes of BT (BT.A) and fears over the rising costs of content such as Premier League broadcasting rights.

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