Comcast has officially acquired 21st Century Fox's 39 per cent stake in Sky.
The acquisition allows Comcast to take full ownership of Sky. Comcast won the auction for Sky valuing the company at £29.7 billion.
"We are pleased today to be the majority owner of Sky. Led by Jeremy Darroch and his superb team, now together with Comcast, our combined global leadership in technology and content paves the way for us to accelerate investment and growth in Sky’s brand and premier platforms," said Brian Roberts, chairman and CEO of Comcast, said in a statement.
"We are also fully committed to ensuring Sky News' future, maintaining its editorial independence, and preserving its strong track record for trusted, high quality, impartial news," he added.
Following the announcement, James Murdoch was among a number of directors who resigned from the board of Sky.