According to Bloomberg, on Saturday, Comcast outbid rival Fox-Disney in its pursuit of European pay-channel Sky, acquiring Sky for approximately $39 billion.

Bloomberg reported that Sky shareholders have until October 11, 2018 to accept the winning bid, though the offer has already been approved by the company’s independent directors.

Comcast had previously received financing from Wells Fargo and Bank of America Merrill Lynch to pursue the Sky acquisition.

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