Rupert Murdoch has confirmed 21st Century Fox has lodged a £11.7bn bid for the 61% stake it doesn't own in Sky.
If Murdoch secures this deal, he will be further expanding his global media group giving him total control of pay-TV operations in the UK, Germany and Italy.
Concerns are being raised that Rupert Murdoch, who also owns the Sun and the Times newspapers and radio group TalkSport may have excessive influence over UK media.
Murdoch will need regulators to approval for the deal in which, Sky shareholders will receive £10.75 in cash for each share, valuing the entire Sky company at £18.5bn.
Karen Bradley, the Culture Secretary, will have 10 days to decide whether the Fox bid raises public interest concerns relating specifically to media plurality. It is likely that she will ask Ofcom, the media watchdog, to launch an investigation to examine the deal.
