By Carlo Martuscelli

Sky PLC (SKY.LN) said Tuesday that Chairman James Murdoch will be resigning with immediate effect after Comcast Corp.'s (CMCSA) acquisition of the company became unconditional.

Mr. Murdoch is joined by a number of company executives in leaving the U.K. media company. Independent nonexecutive directors Matthieu Pigasse and Adine Grate have agreed to remain on the board for the time being, Sky said.

James Conyers, Sky's general counsel, has been appointed to the Sky board as an executive director with immediate effect, it said.

The company said that it will now apply for its shares to be de-listed after Comcast acquired more than 75% of the voting rights of Sky.

Comcast agreed to pay $39 billion for the British pay-TV group after a monthslong bidding war with 21st Century Fox Inc. ended in a rare auction held by U.K. regulators.

The British broadcaster became the target of a protracted battle involving some of the world's largest media companies, amid a larger wave of deal-making accelerated by the rise of streaming platform.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

October 09, 2018 11:38 ET (15:38 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Sky (LSE:SKY)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Sky Charts.
Sky (LSE:SKY)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Sky Charts.